EU to unveil landmark law curbing power of tech giants
- Firms could be fined up to 10% of their annual turnover for violating competition rules.
- Tech giants could be entirely banned from the EU market over "serious and repeated breaches of law," AFP reported.
- Large tech firms would be designated as internet "gatekeepers" — making them subject to stricter regulations.
- Companies would need to inform the EU ahead of any planned mergers or acquisitions.
- Certain kinds of data must be shared with regulators and rivals.
- Companies favoring their own services could be outlawed.