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EU wants broader rules on companies' market power, focus on tech

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BRUSSELS : EU regulators want broader rules defining companies' market power, with more weight given to innovation and pointers on what digital markets are, the European Commission said on Tuesday, prompted in part by the growing power of tech giants. The rules, known as the EU market definition notice, d

BRUSSELS : EU regulators want broader rules defining companies' market power, with more weight given to innovation and pointers on what digital markets are, the European Commission said on Tuesday, prompted in part by the growing power of tech giants.

The information can help regulators to decide whether to demand concessions from a company. Businesses and academics have in recent years criticised EU antitrust laws for being inadequate, especially in relation to U.S. tech giants' merger deals and market power. These include greater emphasis on non-price elements such as innovation and quality of products and services and new guidance defining digital markets such as multi-sided markets and digital eco-systems where products are built around a mobile operating system.

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