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As usual with EU fines Google won't pay a cent and the EU will back down eventually.
This was long overdue! ..and it's not just a meaningless fine, since a solution needs to be proposed within 2 months:
In addition to the fine, Google was ordered to end these self-preferencing practices. It has 60 days to propose a solution, after which the Commission will asses the proposal and either accept Google's remedy or impose its own.
Good. EU should take really hard line with the US data harvest platforms.