EU: Vestager strikes measured tone on US tech, Facebook

In much anticipated statements that coincided with the end of the 66th annual ABA Antitrust Section’s Spring Meetings, EU Commissioner Margrethe Vestager struck a measured tone on the EU’s attitude to US technology giants and, in particular, testimony by Facebook CEO Mark Zuckerberg to Congress.

Vestager emphasized the importance that Facebook’s new privacy standards, prepared largely in response to scrutiny on the far side of the Atlantic, will be global in reach.Vestager wants the new privacy updates to be applied to EU citizens.

To the specific question on whether Facebook was a monopoly, the Commissioner responded “well they certainly are big”, but complemented by saying that the Commission’s focus is on illegal conduct and not on size.

Vestager mentioned that the EC does not have an open investigation to Facebook, but they are keeping a close eye in the one Germany is currently conducting.

Vestager ended her remarks stating that US firms are more than welcomed to have success in Europe, especially if the companies grow in size due to products that clients like and respect. The problem is when a company misused the dominant position, that size companies grow into. Then at that point the EC will look into where these companies contribute to society when they make their profit, she stated.

Full Content: CNBC

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