Here's Google's response to the record $2.7 billion fine just handed down by the EU

• Google's SVP and general counsel Kent Walker recently responded to the EU's record antitrust fine
• Amazon is a "formidable competitor" Walker said
• Google disagrees with the conclusions in the report and is considering an appeal

The European Union slammed Google with a record $2.7 billion antitrust fine on Tuesday.

Google SVP and general counsel Kent Walker this morning published Google's defense, explaining why the company promoted its own search results ahead of competitors, one of the practices the EU took issue with.

"Showing ads that include pictures, ratings, and prices benefits us, our advertisers, and most of all, our users," Walker said. "And we show them only when your feedback tells us they are relevant. Thousands of European merchants use these ads to compete with larger companies like Amazon and eBay."

Walker said that Amazon is a "formidable competitor" in the comparison shopping space, making the argument that Google doesn't quite hold a monopoly on the market.

"Given the evidence, we respectfully disagree with the conclusions announced today. We will review the Commission's decision in detail as we consider an appeal, and we look forward to continuing to make our case," Walker said.

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