Google does have an effective monopoly in search, and it's not a bad idea to have some degree of regulation in place to make sure that it doesn't harm consumers. (Though nonsense like a 'right to be forgotten' is going too far, and should be dropped)
The problem is that that very well may not be the EU's only motive here. At about the same time that the charges were announced, Gunther Oettinger, the EU's Digital Commissioner gave a speech where he said:
A great challenge is also Europe's position in the development of the next digital platforms that will gradually replace the current Internet and mobile platforms. We have so far missed many opportunities in this field and our online businesses are today dependent on a few non-EU players world-wide: this must not be the case again in the future.
... We need European industry 4.0 champions to win the global game in industry 4.0. ... Industry in Europe should take the lead and become a major contributor to the next generation of digital platforms that will replace today's Web search engines, operating systems and social networks.
Maintaining a level playing field and ensuring fair competition is one thing. Using the law to rig the market in order to engage in protectionism, however, is not acceptable. If the EU wants to pursue Google, they're going to need to do so in a way that is justifiably beyond reproach. Otherwise it's relatively easy for Google to restructure the way it does business internationally to avoid the EU from having any power over them, while still offering its services to persons in the EU, and to have many people cheer them on in the process.