EU antitrust chief calls for global approach to Big Tech to avoid abuse of enforcement gap

Europe’s antitrust chief Margrethe Vestager, the architect of landmark rules to curb the power of US tech giants, on Thursday called for a global approach to Big Tech to stop companies from taking advantage of enforcement gaps.

Vestager, who fined Alphabet billions of euros Google and started investigation Apple, heroine And meta platform Facebook said there is a global consensus on the issues raised by the large digital platform.

“This debate is no longer a hot topic among the competitors, but has a strong political focus,” he said at a conference organized by the German cartel office. Vestager urged antitrust watchdogs around the world to work together to tackle the issue.

“Close collaboration will be necessary because we will not have a shortage of work and we will not have a shortage of new services or practices to look at,” she said.

“It goes without saying that the more we, as an international competition community, are able to harmonize our approach, the less opportunity for global tech giants to exploit enforcement gaps between our jurisdictions. Vestager said.

US antitrust promoters and some US states are also investigating Google, Facebook and apple. Big Tech is also under fire in South Korea, India and Australia.

Earlier this week, the EU antitrust regulator charged up Apple with rivals restricting access NFC chip technology in a move that could result in hefty fines for the iPhone maker and force it to open up its mobile payment system to competitors.

The European Commission said it had sent a chargesheet known as the Statement of Objections to Apple, detailing how the company abused its dominant position in the markets for mobile wallets on iOS devices. Apple said it would continue to engage with the commission.

© Thomson Reuters 2022


Source link

Sharing Is Caring:

Leave a Comment