Europe’s antitrust chief Margrethe Vestager, the architect of landmark guidelines to curb the ability of U.S. tech giants, known as on Thursday for a world strategy in direction of Big Tech to forestall firms benefiting from enforcement gaps.
Vestager, who has handed out billions of euros in fines to Alphabet’s Google and launched investigations into Apple, Amazon and Meta Platform’s Facebook, stated there was international settlement on the problems raised by massive digital platforms.
“This debate is no longer a hot topic amongst competition practitioners but it has strong political attention,” she instructed a convention organised by the German Cartel Office.
Vestager urged antitrust watchdogs world wide to work collectively to sort out the problem.
“Close cooperation will be necessary because we will not be short of work and we will not be short of novel services or practices to look at,” she stated.
“It goes without saying that the more we, as an international competition community, are able to harmonise our approach, the less opportunity there will be for global tech giants to exploit enforcement gaps between our jurisdictions,” Vestager stated.
U.S. antitrust enforcers and a few U.S. states are additionally investigating Google, Facebook and Apple. Big Tech can also be beneath hearth in South Korea, India and Australia.
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Source: www.financialexpress.com”