A possible settlement could be forthcoming as confidential chatter progresses between Google (News - Alert) and EU regulators over anti-trust allegations involving its European business practices, according to news reports.

Discussion between the parties is continuing after several concessions were offered by Google, Reuters News Agency reported Tuesday.

It appears the concessions could relate to computers, tablets and mobile devices.

The settlement appears to still be pending by the two sides, though it’s likely to focus on four “concerns” voiced by the EU, news reports added.

The Financial Times called the news a “breakthrough” and relates to Google “in principle” agreeing to “extend the remedies it had offered to make for PC-based search to cover mobile search services.”

The formal settlement may take months to enact after more closed-door discussion and a formal document is produced, according to FT.

In its analysis of the possible settlement, FT speculated that Google would like to avoid formal charges from European regulators. If Google agrees to a settlement it would also avoid what the FT described as potential “multibillion-dollar fines” and long courtroom battles – which would also be pricey and lead to negative publicity for the company.

Without a settlement, Google could face fines of up to 10 percent of Google's global revenue, which were $37.9 billion in 2011, according to The Telegraph. A settlement would also keep Google from the “decade-long fight in Brussels that dogged the likes of Microsoft and Intel (News - Alert),” FT said.

The EU investigation relates to how Google allegedly favors its own products in search results. Among other allegations, FT reports that Google “demotes potential competitors, copies content from rivals without permission, shuts out competition with its advertising agreements with other websites and restricts advertisers from moving their online ad campaigns to rival search engines.” The FT speculates too that Google’s concessions related to each of these concerns.

Last year, Google said it was trying to cooperate with the EU inquiry, TMCnet reported.

The EU will likely continue to investigate Google’s Android (News - Alert) mobile phone and tablet operating system as it relates to competition. Other government investigations reportedly remain ongoing about Google in the United States, Korea and India.

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