Google Submits Proposal To Avoid European Regulator Showdown
SAN FRANCISCO (CBS/AP) -- Google has submitted a proposal aimed at avoiding a showdown with European regulators threatening to crack down on the some of the Internet search leader's business practices.
The attempt to work out a settlement came in a Monday letter from Google Executive Chairman Eric Schmidt to Europe's antitrust chief, Joaquin Almunia.
Neither Google nor Almunia's spokesman would provide details of the offer. Google confirmed the letter addressed four areas of concern that European regulators raised six weeks ago as part of a broad investigation opened in 2010.
Almunia had given Google until early July to propose changes to its business or risk being hit with a legal action. Such legal action could culminate in the company being fined several billion dollars for engaging in uncompetitive behavior.
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