finance.yahoo.com

Alphabet Agrees to Pay $353M Play Store Dominance Settlement

Alphabet (Google) logoAlphabet (Google)
Sig3.55Sen-2.65Env0.00Soc0.00Gov-3.25

Alphabet has agreed to pay about £260 million (around $353 million) to settle a Play Store dominance lawsuit alleging abuse of its standard 30% commission. The London tribunal must approve payments, including up to £160 million for qualifying developers and £100 million for legal costs. The deal comes as advertising and profit rise and Alphabet keeps large cash reserves.

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