Google's outgoing chief executive officer Eric Schmidt has stated that he is keen to reach a deal with the European Commission (EC) over its investigation into the company's internet marketing services strategy.

Speaking to the Sunday Telegraph, the executive said that he did not want the firm to be drawn into a lengthy process which could last for years and result in large penalties being issued.

He added he was eager to avoid a similar battle to the one Microsoft got involved in over allegations of anti-competitive practices, which took nearly a decade to resolve and cost the firm €1.68 billion (£1.5 billion) in fines.

"I think it is in our interests and I would hope in their interests to do a quick analysis of concerns that have been raised by competitors," he told the newspaper, adding the company would "make sure we are operating well within the law and the spirit of the law".

Mr Schmidt was recently forced to deny speculation that a boardroom reshuffle within Google was a response to added competition from platforms such as Facebook.

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