Scalper1 News
Microsoft ( MSFT ) and Alphabet ’s ( GOOGL ) Google have agreed to withdraw regulatory complaints against one another, following up on an agreement to end patent infringement litigation last September. The move to withdraw regulatory complaints comes as the European Union’s antitrust chief intensifies a probe into Google’s Android software business. The EU also is investigating whether Google favors its own shopping service in Internet searches. Microsoft says that it’ll now stay out of any regulatory inquiries in Europe and other regions that involve Alphabet and Google. “Microsoft has agreed to withdraw its regulatory complaints against Google, reflecting our changing legal priorities. We will continue to focus on competing vigorously for business and for customers,” Microsoft said in a statement . Google also issued a statement that said: “Following our patent agreement, we’ve now agreed to withdraw regulatory complaints against one another.” Microsoft will drop its membership in two groups that have lobbied vs. Google, says a Re/Code report . The EU antitrust chief is also probing contracts with mobile phone makers as well as wireless service providers that sell devices using Android software. Both companies late Thursday posted Q1 earnings misses that sent shares of both down in the stock market today . Microsoft stock was down 7.5% Friday afternoon, and Alphabet stock was down 5.5%. Losses widened for Alphabet’s “Other Bets” moonshot projects, while Microsoft’s talk of weakness in the global economy surprised at least one analyst. Scalper1 News
Scalper1 News