Criticism of Google
"No money in the near future – expect Google to appeal"
Google will now analyze the verdict and "consider its legal options". A spokesperson tells Reuters.
The company points out that since 2017 it has changed how shopping ads are displayed and that these changes are working well.
- We do not agree with the court's decision, a spokesperson tells the news agency.
Klarna welcomes the verdict, but does not expect to receive any money in the near future because Google has the opportunity to appeal.
- We can expect an appeal to take more than a year, probably several years, says Klarna's legal representative Pontus Scherp.
The expert: "A substantial value increase for Klarna"
Rodney Alfvén, advisor at Hallvarsson & Halvarsson, believes that a substantial price increase in Klarna is justified after the ruling in the Patent and Market Court, writes EFN.
Mathematically, Klarna's price should rise by around 25 percent, says former bank analyst Alfvén.
- Say they make a one-time dividend or buy back shares. Then it is a substantial value increase for the company.
Google will most certainly appeal the ruling, Alfvén tells the site. In addition, it is unclear what Klarna will do with the money. This may contribute to the share not rising as much.
Google forced to pay 14 billion to Pricerunner
Google is to pay 14.3 billion kronor in damages to the Swedish Pricerunner, according to a ruling from the Patent and Market Court.
The court believes that Google has for many years unlawfully favored its own price comparison service and thereby harmed Pricerunner, which is now owned by Klarna.
Including interest, the sum is around SEK 19 billion, according to the judgment.
Pricerunner, which was bought by Klarna in 2022, had claimed SEK 77 billion.
– It is in many ways a complex and extensive case and the damages are, despite Pricerunner not being fully successful in its case, without a doubt the largest ever awarded in a Swedish competition case, says Councillor Linda Kullberg in a press release.
"No money in the near future – expect Google to appeal"
Google will now analyze the verdict and "consider its legal options". A spokesperson tells Reuters.
The company points out that since 2017 it has changed how shopping ads are displayed and that these changes are working well.
- We do not agree with the court's decision, a spokesperson tells the news agency.
Klarna welcomes the verdict, but does not expect to receive any money in the near future because Google has the opportunity to appeal.
- We can expect an appeal to take more than a year, probably several years, says Klarna's legal representative Pontus Scherp.
The expert: "A substantial value increase for Klarna"
Rodney Alfvén, advisor at Hallvarsson & Halvarsson, believes that a substantial price increase in Klarna is justified after the ruling in the Patent and Market Court, writes EFN.
Mathematically, Klarna's price should rise by around 25 percent, says former bank analyst Alfvén.
- Say they make a one-time dividend or buy back shares. Then it is a substantial value increase for the company.
Google will most certainly appeal the ruling, Alfvén tells the site. In addition, it is unclear what Klarna will do with the money. This may contribute to the share not rising as much.
Google forced to pay 14 billion to Pricerunner
Google is to pay 14.3 billion kronor in damages to the Swedish Pricerunner, according to a ruling from the Patent and Market Court.
The court believes that Google has for many years unlawfully favored its own price comparison service and thereby harmed Pricerunner, which is now owned by Klarna.
Including interest, the sum is around SEK 19 billion, according to the judgment.
Pricerunner, which was bought by Klarna in 2022, had claimed SEK 77 billion.
– It is in many ways a complex and extensive case and the damages are, despite Pricerunner not being fully successful in its case, without a doubt the largest ever awarded in a Swedish competition case, says Councillor Linda Kullberg in a press release.
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