Allegro Subsidiary Sues Alphabet for $567 Million Over Antitrust Violations

Author's Avatar
Dec 24, 2024
Article's Main Image

European e-commerce platform Allegro's subsidiary, Ceneo, has filed a lawsuit against Alphabet, Google's parent company, seeking compensation of approximately 2.33 billion zlotys ($567 million). Ceneo, a Polish e-commerce platform known as a "comparison shopping engine," has taken legal action against Google's Ireland division and Alphabet's Google in the Warsaw District Court.

Allegro claims that Google's preferential treatment of its own comparison shopping service in search results has negatively impacted Ceneo's business. This lawsuit is linked to a 2017 European Commission decision accusing Google of favoring its Google Shopping service, affecting competitors in the e-commerce sector. In September, the EU's highest court upheld a 2.42 billion euro antitrust fine against Google.

Ceneo's claims include 1.72 billion zlotys in losses and 615 million zlotys in interest payments from 2013 to November 2024. Additionally, Ceneo seeks statutory interest from the lawsuit's filing date until damages are paid.

Alphabet has proposed its own antitrust remedies to maintain healthy competition in the internet search market, countering the U.S. Department of Justice's push for the sale of its Chrome browser.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.