The European Commission’s Competition Commissioner said over the weekend that Googles’s proposed antitrust settlement is inadequate and added he would seek further concessions from the Internet giant. Commissioner Joaquin Almunia’s decision came in response to objections raised to the third proposed settlement deal released last February.

Almunia added that the Commission would "probably" open a formal investigation into Google’s Android mobile operating system if regulators didn't get "adequate" answers from the company to complaints.

Almunia on Saturday told Bloomberg television, "Some complainants have introduced new arguments, new data, new considerations. We now need to analyze this and see if we can find solutions, Google can find solutions, to some of these concerns that we find justified."

The EC is now in contact with Google to see if they are ready to offer solutions.

Among those objecting GOogle's proposal for settlement was Consumer Watchdog, the BEUC (The European Consumer Organization), Microsoft and powerful German publishing groups.

In case the competition authorities file a formal complaint - a so-called Statement of Objections - Google could face of $5 billion.