EU lawmakers agree on rules to target Big Tech

EU lawmakers have reached a breakthrough on how to target tech companies, including Apple and Google, as part of moves by Brussels to curb anti-competitive practices in the digital economy. The European Parliament’s main political parties agreed to a deal that would apply to companies with a market capitalisation of at least €80 billion and offering at least one internet service, such as online search. It means the rules would draw more companies than thought into the EU’s planned Digital Markets Act (DMA), a wide-ranging effort to rein in Big Tech. Brussels hopes to implement the act in 2022. Companies including Google, Amazon, Apple, Facebook and Microsoft would fall under its scope, alongside Netherlands’ Booking and China’s Alibaba. The agreement reached on November 17 paves the way for EU lawmakers to vote on the package the following week. Their plans would then have to be agreed upon with EU member states before becoming law. The proposed rules are aimed at banning anti-competitive behavior and will boost the power of national competition authorities to scrutinise tech companies’ acquisitions of smaller rivals, following fears that they are buying competitors on the cheap to ‘kill’ challengers.