EU should focus on top 5 tech giants in Digital Markets Act negotiations, says MEP
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Summary:
European lawmaker, Andreas Schwab, who will lead the debate on the bloc’s flagship tech regulation, called for focus to be on top 5 US giants.
The EU is in talks about how to be tougher on big tech and especially Google, Apple, Amazon, Facebook and Microsoft as they have repeatedly caused problems for the bloc’s competition policy.
Last December Brussels unveiled its intentions to tackle the market power of Big Tech with its Digital Markets Act. There are currently 20 companies that would be affected by regulations.
But in a new report, to be released on Monday, Schwab called for higher thresholds of €100bn market capitalisation, rather than €65bn in the original proposals, and of €10bn turnover in the last three financial years, rather than €6.5bn.
He also called for more transpare ...