Skift Take
These sorts of fines, like the one in Russia, are almost inconsequential to a company the size of Booking.com. Still, the company wants to be in good standing in a country as large as Russia.
Russia’s federal anti-monopoly service (FAS) has slapped a 1.3 billion rouble ($17.52 million) fine on hotel reservation website Booking.com for violating anti-monopoly law, the regulator said on Thursday.
The fine from the FAS comes nine months after it accused the company of violating Russia’s competition law, saying that Booking.com “abused its dominant position on the market.”
According to Russian anti-monopoly law, a company could face a fine of between 1% and 15% of its annual revenue generated in Russia.
Booking.com said on Thursday it planned to appeal the FAS decision, TASS news agency reported. ($1 = 74.1934 roubles) (Reporting by Andrey Ostroukh; Editing by Kirsten Donovan)
This article was from Reuters and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to [email protected].
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Tags: booking holdings, booking.com, competition, regulation, russia
Photo credit: A photo of the Kremlin. Russian regulators are fining Booking.com $17.5 million for allegedly violating competition laws. Jorge Láscar / Flickr.com