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EU antitrust chief nominee vows to intensify Big Tech crackdown
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EU antitrust chief nominee vows to intensify Big Tech crackdown
Oct 23, 2024 2:44 AM

BRUSSELS, Oct 23 (Reuters) - The woman tipped to become

the European Union's next antitrust chief has pledged to

intensify the bloc's crackdown on Big Tech and foreign companies

receiving unfair state subsidies to buy EU peers or take part in

EU tenders.

The EU passed the landmark Digital Markets Act in 2022,

which compels tech companies to make it easier for consumers to

choose services from different providers.

It designated Alphabet, Apple ( AAPL ), Amazon ( AMZN ), Meta, Microsoft ( MSFT ) and

TikTok owner ByteDance as "gatekeepers" under the DMA, meaning

they warrant extra regulation.

"I will push for a vigorous enforcement of the DMA, shaping

the Commission policy concerning this important new instrument,

in order to deliver concrete results for European business and

end users," Teresa Ribera, who has been nominated as the

European Commission's next antitrust chief, said in written

responses to the European parliament.

The parliament will hold hearings for nominated

commissioners in November.

"We cannot afford unduly long antitrust investigations

during which companies continue to benefit from their

anticompetitive practices," Ribera added.

Earlier this year, the Commission launched probes into

Alphabet, Apple ( AAPL ) and Meta for potential breaches of DMA rules.

In a bid to promote new EU market leaders, Ribera's mission

also includes protecting small and midcap businesses from

"killer acquisitions" by foreign companies seeking to destroy

competition.

The 27-member bloc has struggled to produce leading

companies in the global clean tech race, with a fragmented

capital market hindering expansion within and outside the EU.

In her responses, Ribera said she wanted to simplify rules

for state aid and enforce foreign subsidies regulation.

The EU is trying to stem what it deems as unfair competition

from subsidised Chinese firms in wind, solar, and in particular,

electric vehicles. Earlier this month, the bloc decided to slap

tariffs of up to 45% on imported Chinese-made EVs.

However, Ribera said regulation would not solve the bloc's

problems and a new industrial strategy was needed. Working with

her peers, including climate chief nominee Wopke Hoekstra, she

is tasked with developing a clean industrial deal under the

executive vice president for industry, Stephane Sejourne.

"The BEVs (battery electric vehicles) anti-subsidy

investigation was grounded on solid facts and evidence and was

carried out in line with WTO (World Trade Organization) rules,"

Ribera said.

"This case is not a substitute for our automotive industrial

strategy. Looking ahead, we need to conduct a broader strategic

discussion about the future of the automotive industry in the

EU."

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