Close all loop holes
Europe’s antitrust chief Margrethe Vestager called on Thursday for a global approach towards Big Tech to close any loop holes they might exploit.
Vestager has handed out billions of euros in fines to Alphabet’s Google and launched investigations into Apple, Amazon and Meta said there was global agreement on the issues raised by large digital platforms.
She told the gathered throngs at a conference organised by the German Cartel Office that the debate was no longer a hot topic amongst competition practitioners but it has strong political attention.
Vestager urged antitrust watchdogs around the world to work together to tackle the issue.
“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 said.
“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 said.
US antitrust enforcers and some US states are also investigating Google, Facebook and Apple, however, across the pond, it is easier for Big Tech to buy and “lobby” politicians to cover themselves. At the moment the US line is that big tech rules from Europe or other countries is “persecuting US business.”