Microsoft (MSFT) Cleared by French Watchdog in Qwant Search Engine Dispute

Microsoft Corporation (NASDAQ:MSFT) is one of the best dividend stocks to buy according to hedge funds. On November 27, the French antitrust watchdog, known as the Autorité de la Concurrence, ruled against a complaint filed against Microsoft by Qwant, a domestic search engine that blamed the tech giant for misusing its industry stronghold. The watchdog noted that Qwant did not provide enough evidence to back its allegations and also dropped the interim action against Microsoft.

Last month, Qwant commented that it is anticipating its complaint to be unheard and disqualified, but it will take Microsoft to court or involve other regulators. On this matter, a Microsoft representative stated:

"We agree with the decision and remain committed to providing high-quality search services and fostering innovation for consumers and partners in France and across Europe,"

Qwant claimed that Microsoft is abusing its market power, and it is putting constraints on Qwant’s search results and ads, which means that the company cannot effectively build its own search engine and AI capacity. The company also claimed that Microsoft skewed ad results in its own favor.

In a separate update by Bloomberg, dated November 30, a $2.1 trillion Norwegian sovereign wealth fund, which is also one of its biggest equity shareholders, is voting in favor of Microsoft in its divisive human rights case. Some shareholders wanted the tech giant to revisit its human rights claims as reports broke out claiming that its tools were employed by Israel’s army to carry out extensive surveillance in Gaza and the occupied West Bank.

However, Norges Bank Investment Management, which runs the $2.1 trillion fund, said it plans to vote against this proposal at Microsoft’s virtual annual meeting on December 5. This means the fund is aligned with Microsoft’s actions in terms of human rights.

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