According to a report from the Financial Times, Google, Amazon, Facebook and other major technology companies could face fresh antitrust challenges after an EU report recommended sweeping changes to how the bloc enforces its competition rules.
The report, published on Thursday, April 4, could also lead to more companies being deemed “dominant” and therefore subject to stricter rules about the services they provide and the prices they charge.
It was commissioned by EU competition enforcer Margrethe Vestager and written by three academics known as “special advisers.”
The 133-page report, titled “Competition policy for the digital era,” stated, “There is a reasonable concern that dominant digital firms have strong incentives to engage in anti-competitive behaviour . . . They require vigorous competition policy enforcement and justify adjustments to the way competition law is applied.”
The academics—Heike Schweitzer, professor of law at the Humboldt University of Berlin, Jacques Crémer, professor of economics at the Toulouse School of Economics, and Yves-Alexandre de Montjoye, assistant professor of data science at Imperial College London— said Europe’s antitrust law framework is “sound and sufficiently flexible,” but recommended applying the rules differently in the future in order to act more quickly in fast-moving markets.
Ms Vestager said the report was “full of important insights into the way markets are changing, and full of valuable ideas on how competition policy can respond.” She said it will take time “to discuss and debate [the suggestions] before conclusions are reached.”
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Conducts First-Ever Raids on a Company Under Foreign Subsidies Regulation
Apr 23, 2024 by
CPI
FTC Moves to Ban Non-Compete Agreements, Aiming to Boost Labor Mobility
Apr 23, 2024 by
CPI
Federal Judge Nods at $418M Deal in Real Estate Antitrust Suit
Apr 23, 2024 by
CPI
Mexican Watchdog Probes Amazon and Mercado Libre Over Loyalty Bundles
Apr 23, 2024 by
CPI
Competition Commission of India to Probe AI Landscape for Competition
Apr 23, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI