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Spain Watchdog Fines Booking.com Nearly $450 Million For Abusing Its Dominant Position

Spain's competition watchdog said Tuesday it had slapped online travel agency Booking.com with a record $446.7 million fine for "abusing its dominant position" during the past five years. From a report: "These practices have affected hotels located in Spain and other online travel agencies that comp...

Spain's competition watchdog said Tuesday it had slapped online travel agency Booking.com with a record $446.7 million fine for "abusing its dominant position" during the past five years. Its terms and conditions create an inequitable imbalance in the commercial relationship with hotels located in Spain," the CNMC said in a statement. Booking.com, whose parent company Booking Holdings is headquartered in the United States, is a dominant player with a market share in Europe of more than 60 percent.

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