​Alphabet Inc. (GOOGL) Could Face Stricter Regulations In UK Due to Its Search Dominance

​Alphabet Inc. (NASDAQ:GOOGL) is one of the Best Forever Stocks to Invest In Now. On October 10, Reuters reported that Alphabet Inc. (NASDAQ:GOOGL) could face stricter regulations in the UK due to its search dominance. This move comes as the British competition regulators are looking to tackle the dominance of Big Tech companies.

​Will Hayter, who is the Executive Director for Digital Markets at the Competition and Markets Authority, noted that Alphabet Inc. (NASDAQ:GOOGL) has a strong dominance in search and search advertising, as more than 90% of the searches in the UK take place from the company’s platform. This gives the UK regulators power to step in and ensure that the services are open to effective competition.

​The report highlighted that the Competition and Markets Authority’s investigation does not mean they have found wrongdoing and will not trigger any immediate changes. However, the authorities could require some changes in June next year, including fairer ranking in search and easier access to alternative search engines for consumers.

​This update comes after the company was hit with a $3.45 billion antitrust fine last month by the European Union for anti-competitive practices in the AdTech business. Alphabet Inc.’s (NASDAQ:GOOGL) Senior Director for Competition, Oliver Bethell, noted that many ideas of intervention could inhibit the potential for innovation and growth in the UK at a time when AI-based innovations are profound.

​Alphabet Inc. (NASDAQ:GOOGL) is a holding company with major segments including Google Services, Google Cloud, and Other Bets.

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Disclosure: None. This article is originally published at Insider Monkey.