Google has reportedly offered an improved package of concessions to EU regulators in a bid to settle an antitrust investigation and avert a possible fine, the Financial Times reported on Tuesday.

Google submitted some proposals early this month to the European Commission after the EU watchdog gave it a last chance to respond to more than a dozen complaints about its business practices.

EU Competition Commissioner Joaquin Almunia pointed to specific areas of concern.

Google had now submitted a revised package of concessions after Almunia spoke to its chairman, Eric Schmidt, and requested it to clarify some of the elements, the Financial Times said, without citing any sources.

The newspaper said Almunia would decide in the next two weeks whether to accept Google's offer or charge the company with anti-competitive behavior.

If found guilty, Google could face a fine of nearly $4 billion.