Google has been fined €2.95bn (£2.5bn) by the EU for allegedly abusing its power in the ad tech sector - the technology which determines which adverts should be placed online and where.

The European Commission said on Friday the tech giant had breached competition laws by favouring its own products for displaying online ads, to the detriment of rivals.

It comes amid increased scrutiny by regulators worldwide over the tech giant's empire in online search and advertising.

Google told the BBC the Commission's decision was wrong and it would appeal.

It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money, said Lee-Anne Mulholland, global head of regulatory affairs at Google.

In its decision on Friday, the Commission accused Google of self-preferencing its own technology above others.

The Commission's fine is one of the largest fines it has handed down to tech companies accused of breaching its competition rules to date. Earlier fines have included a €4.34bn penalty for abusing its Android operating system.

Google has 60 days to explain how it will change practices to comply with EU competition rules, or it may face additional scrutiny and potential structural remedies.