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How the EU and the UK are gearing up for future regulatory battles with Big Tech
06 November 2020 00:00
Speak to regulators around the world and you’re likely to hear the same complaint: With technology moving so fast, those overseeing digital giants need an expanded toolbox. The European Commission is tackling the problem by putting forward a proposal that would give the EU regulator new powers with which to tackle the antitrust challenges posed by Big Tech — a proposal named the Digital Markets Act. Meanwhile, UK competition regulators are considering additional firepower to tackle what are referred to as “killer acquisitions” — tech giants swooping in on startups to ward off future competition. However, drawing the line between a killer acquisition and a strategically savvy investment may prove problematic.
The European Commission is grouping together its initiatives relating to the functioning of online markets — including plans to regulate gatekeeper platforms — in a proposal called the Digital Markets Act.
Visa's UK clearance to buy Plaid showed the Competition and Markets Authority to be unafraid of evaluating and dismissing "killer acquisition" concerns.