Google Seeks Settlement without Having To Pay Fines

In a statement made by the European Union's top antitrust regulator, Joaquin Almunia, on Friday, he mentioned that he won't be crossing his limits to continue discussions with the Google over a settlement on will its web search engine in support of the company's own Web offerings to account for loss of its competitors.

Mr. Almunia, while addressing a news conference, said, "He could still issue formal charges, known as a statement of objections, against Google if the talks did not give us the results we are looking for, the elimination of our concerns in this market".

It has been reported that since July, official discussion is being carried out between the search engine giant and Mr. Almunia. It was then, when Google assured that it will settle for the deal.

The company is making significant efforts to settle the issue and avoid paying any fines or preventing the imposition of stricter rules and restriction being imposed on its online search and its well-established and profitable advertising service.

Google has asserted that in case it brings about any changes or makes any adjustments regarding its search engine, they are only for the benefit of the customer and not to attain any better market share.

If the case is not settled, the company will be fined 10% of its yearly worldwide revenue.