Draft rules aimed at reining in the power of Facebook, Alphabet unit Google, Amazon, and Apple should only target these US tech giants, a leading EU lawmaker said, reported Reuters.
Proposed by European Competition Commissioner Margrethe Vestager last year, the Digital Markets Act (DMA) could force US tech giants to change their lucrative business models and ensure a level playing field for smaller rivals.
The DMA defines online gatekeepers as companies with more than €6.5 billion (US$8 billion) in annual European turnover in the last three years or €65 billion in market value in the last financial year, and which provide a core platform service in at least three EU countries.
Such criteria could catch big EU and Asian tech companies in addition to the US competitors.
That revenue threshold should be ratcheted up to €10 billion and the market value to at least €100 billion, European Parliament lawmaker Andreas Schwab, who is leading the file for the EU body, said in a report.
“The DMA should be clearly targeted to those platforms that play an unquestionable role as gatekeepers due to their size and their impact on the internal market,” he wrote in his report.
“To this end, it is appropriate to increase the quantitative thresholds and to add … that they are providers of not only one but, at least, two core platform services,” Schwab said.
The EU competition enforcer should be able to designate in a month which gatekeepers should be subject to the rules instead of its proposed three-month period, he said.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Vista and Blackstone in Advanced Talks to Acquire Smartsheet in $8 Billion Deal
Sep 17, 2024 by
CPI
Ursula von der Leyen Appoints Spanish Minister to Key Role in European Commission
Sep 17, 2024 by
CPI
US Judge Dismisses Antitrust Lawsuit Against Bayer, Corteva, and Syngenta
Sep 17, 2024 by
CPI
YouTube CEO Argues Google’s Innovation, Not Monopoly, Drove Ad Tech Success
Sep 16, 2024 by
CPI
Samsung, Xiaomi Among Smartphone Brands Allegedly Involved in eCommerce Collusion In India
Sep 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández