EU wants broader rules on companies’ market power, focus on tech

BRUSSELS: EU regulators want broader rules defining companies’ market power, with more weight given to innovation and pointers on what digital markets are, the European Commission said on Tuesday, prompted in part by the growing power of tech giants.

The rules, known as the EU market definition notice, date back to 1997 and help regulators measure a company’s pricing power in a merger or its power to shut out rivals in an antitrust case.

The information can help regulators to decide whether to demand concessions from a company. Businesses and academics have in recent years criticised EU antitrust laws for being inadequate, especially in relation to U.S. tech giants’ merger deals and market power.