BRUSSELS—The European Union hit Alphabet Inc.'s Google with a record antitrust fine of €4.34 billion ($5.06 billion) on Wednesday, according to an official familiar with the matter, a decision that could loosen the company's grip on its biggest growth engine: mobile phones.
EU commissioners agreed on the fine in a Wednesday morning meeting, according to the person, marking Brussels' sharpest rebuke yet to the power of a handful of tech giants. Details of the decision are expected later Wednesday.
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