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EU seeks new powers to penalise tech giants: FT

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The European Union (EU) wants to arm itself with new powers to penalise big technology companies, the Financial Times (FT) reported on Sunday.

[BENGALURU] The European Union (EU) wants to arm itself with new powers to penalise big technology companies, the Financial Times (FT) reported on Sunday.

The proposed plan includes forcing tech giants to break up or sell some of their European operations if their market dominance is deemed to threaten the interests of customers and smaller rivals, the newspaper said.

EU Internal Market Commissioner Thierry Breton, in an interview with the FT, said the proposed remedies, which would only be used in extreme circumstances, also include the ability to exclude large tech groups from the single market altogether.

REUTERS

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