EU to unveil landmark law curbing power of tech giants

2020-12-15 13:03:19

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.

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