The European Commission is preparing new rules for large technology companies. Their proposal is expected to be introduced in early December. Regulators should be given more powers to correct market failures in the European digital single market.
Commissioner Margrethe Vestager, who has competition in charge, among others, said it would not be necessary for tech giants to have to split into smaller companies. “It’s never going to get to this stage. So far, we have not solved any case that would lead to such a move,“ Vestager said in an interview with the Frankfurter Allgemeine Sonntagzeitung on Sunday.
In early December, the European Commission will present a proposal for new rules for the digital sector, which could give new powers to regulators who are on the look out for the functioning of the European Union’s digital single market. In theory, technology companies like Google and Facebook can breathe a sigh of relief.
On the other hand, European Commissioner for the Internal Market Thierry Breton said that the proposed rules would also include the possibility of forced large technology companies to split into smaller or smaller parts of their business in Europe if their dominant market position would jeopardize the interests of their smaller competitors or consumers.