EU: Vestager says they will update competition rules in light of increasing digitalization
The EU will review its rules on how it defines markets to react to increasing digitalisation, EU competition chief Margrethe Vestager said Monday, December 9. According to Bloomberg, Vestager said it was time to review the EU’s market definition notice which has been in place since 1997.
“Changes like globalization and digitization mean that many markets work rather differently from the way they did, 22 years ago,” Vestager said.
Vestager’s move to forestall critics is to update guidelines dating back more than two decades on how enforcers define markets that companies operate in, she said in a speech in Brussels on Monday. She said the changes will tackle how digital firms have emerged “causing an earthquake in our markets” and how European customers are more willing to look for suppliers outside their home country.
“The challenges we’re facing, at the start of this new decade, mean that we need to look again at the tools we use to enforce the competition rules,” she said. Regulators try to study how companies compete and how customers and suppliers interact with them, ultimately asking if customers can find an alternative “if prices go up, quality down or innovation stops,” she said.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Antitrust Lawsuit Targets RTX’s Pratt & Whitney Canada
May 14, 2024 by
CPI
Former Sales Pro Admits to Bid Rigging Targeting US Schools
May 13, 2024 by
CPI
Macron Advocates EU Financial Integration Amid Push for Global Competitiveness
May 13, 2024 by
CPI
Microsoft Faces EU Antitrust Charges Over Teams Software
May 13, 2024 by
CPI
EU Antitrust Complaint Filed Against Edwards Lifesciences by Indian Rival Meril
May 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI