Google is purportedly facing a European Union antitrust fine of about 3 billion euros, or about $3.4 billion, in the succeeding weeks for allegedly abusing its search dominance.

A report from The Telegraph claims that officials in Brussels are presently putting "finishing touches" to the investigation over Google reportedly promoting its shopping service in Internet searches and denying traffic to rival services.

"Sources close to the situation said officials aimed to make an announcement before the summer break and could make their move as early as next month," reads The Telegraph's report.

Since the terms have not yet been finalized, according to sources, a possibility exists that the fine and other terms will still be amended in the coming weeks.

The European Commission can fine Google up to 6.6 billion euros, or around $7.5 billion. This figure is equivalent to 10 percent of the firm's yearly sales.

The Telegraph also reports that Competition Commissioner Margarethe Vestager recently said there's a possibility Google will face further charges in other web search markets, such as maps and travel information.

On top of that, the newspaper also says Google will be banned to keep on manipulating search results to harm competitors and favor itself.

A report from Reuters says Google and the Commission refused to comment on this rumor.

Reuters' sources, in the meantime, earlier said that Google has no plans of trying to settle the accusations "unless the EU watchdog changed its stance."

At the moment, the biggest antitrust fine is 1.1 billion euros, or about $1.2 billion, which was imposed on semiconductor maker Intel.

If the report holds true, the Commission's move will reject Google's argument that it is not anti-competitive, with the company citing the success of eBay and Amazon as proof that it is fair to its competitors.

The company is also facing other antitrust probes in the region, which involve its Android mobile operating system.

At any rate, since there is no official word yet from Google and the Commission, it is wise to take this story with a grain of salt. We will be sure to keep you updated, though, as new information becomes available.

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