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EU will not insist on crushing tech giants

Europe / Business and Finance

The new EU regulation stipulates that large tech companies must be fragmented if this threatens the interests of customers.

EU will not insist on crushing tech giants

There is no need to separate big tech companies like Google and Facebook, the head of the European antitrust authority said Sunday. European Competition Commissioner Margrethe Vestager is to announce the draft new rules for the digital sector on December 2, and then align her proposal with those of the member states and the European Parliament.

On Thursday, she said she would offer new powers to law enforcement to address market challenges in digital markets and prevent new ones from emerging.

At the same time, Vestager said in an interview with the Frankfurter Allgemeine Sonntagzeitung that she does not consider it necessary to split the tech giants into smaller structures, although the European Union can use this step as a last resort.

"It will never come to that," she said in an interview with the newspaper. “Until now, we have not had any cases that could lead to such a step.”

EU Commissioner for the Internal Market Thierry Breton said the proposed rules include forcing tech giants to divest or sell some of their European operations if their market dominance is found to threaten the interests of customers and smaller competitors.

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