(CNBC) -- Shares of Alphabet fell Wednesday following a report that European Union officials will hit the company with a "negative result" and a fine of up to $11 billion for abusing its dominance through the Android mobile operating system.
The ruling from EU commissioner Margrethe Vestager could come within weeks, the Financial Times reported, citing unnamed sources. The exact penalty amount is unclear, but the commission has the authority to impose a fine of up to $11 billion.
It's one of three investigations launched by the EU into the U.S. tech giant, amid growing concerns around tech monopolies.
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