Google (NASDAQ: GOOGL) suffered a setback in India after an appeals court upheld a fine of around $160 million slapped on the tech giant by the Indian antitrust regulator, the Competition Commission of India (CCI).
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CCI fined GOOGL back in October last year as it said that the company was abusing its dominant position in the Android ecosystem and imposed another fine a few days later after the company was accused of not allowing app developers to use third-party billing and payment-processing services. The CCI had asked the company to take corrective action which it started doing this year.
The company has now 30 days to pay the fine.
Analysts are bullish about GOOGL stock with a Strong Buy consensus rating based on 32 Buys.