Europe’s antitrust chief Margrethe Vestager, the architect of landmark rules to curb the power of U.S. tech giants, called on Thursday for a global approach towards Big Tech to prevent companies taking advantage of enforcement gaps.
Vestager, who has handed out billions of euros in fines to Alphabet’s GOOGL-Q Google and launched investigations into Apple AAPL-Q, Amazon AMZN-Q and Meta Platform’s FB-Q Facebook, said there was global agreement on the issues raised by large digital platforms.
“This debate is no longer a hot topic amongst competition practitioners but it has strong political attention,” she told a conference organized by the German Cartel Office.
Vestager urged antitrust watchdogs around the world to work together to tackle the issue.
“Close co-operation 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 harmonize our approach, the less opportunity there will be for global tech giants to exploit enforcement gaps between our jurisdictions,” Vestager said.
U.S. antitrust enforcers and some U.S. states are also investigating Google, Facebook and Apple. Big Tech is also under fire in South Korea, India and Australia.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.