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Spain Fines Booking.com $448 Million for Market Abuse Over Five Years
Jul 30, 2024, 04:12 PM
Spain's competition watchdog, the Comisión Nacional de los Mercados y la Competencia (CNMC), has fined Booking.com 413.2 million euros ($448 million) for abusing its dominant market position in the country since 2019. The fine, the largest ever imposed by the CNMC, stems from Booking.com's unfair terms and practices that restricted rivals and exploited its market share of 70%-90% over five years. The investigation into Booking.com began in October 2022 following complaints by Spanish businesses affected by the company's practices.
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