Britain's Competition and Markets Authority said it's consulting on a proposal to give Google "strategic market status." The status is a designation under the U.K.'s new Digital Markets, Competition and Consumers Act for tech firms that hold entrenched market power.

UK's Competition and Markets Authority are eyeing tighter control of Google, a move that could reshape how advertisers reach users in search.

“Google is the world’s leading search tool and plays an important role in all our lives, with the average person in the UK making five to 10 searches a day,” said Sarah Cardell, the CMA’s chief executive. “Our investigation so far suggests there are ways to make these markets more open, competitive and innovative.”