|
Rules known as Regulation 1/2003, in force since 2004, have
allowed Vestager to go after Alphabet unit Google, Apple,
Amazon, Meta, Microsoft and Intel, and impose billions of euros
in fines.
Vestager's proposal to reform the rules came as companies
complained about lengthy proceedings and demands for information
ranging from minutiae to complex data.
Giegold, state secretary at the German Ministry for Economic
Affairs and Climate Action, said Vestager should be bolder.
"Market investigations and structural remedies should also be on
the table for the upcoming review of the regulation 1/2003 that
Vice President Margaret Vestager has announced recently," he
told a conference organised by the German cartel office.
Giegold said European Union merger rules could also do with an
update to strengthen them, in particular against big companies
acquiring smaller rivals to close them down.
"One particular area where we need reinforcement is EU merger
control. The number of interventions in mergers has dropped over
the years," he said.
"Unfortunately, and to some extent incomprehensibly the European
mission so far has resisted calls to look into the EU merger
regulation and the underlying substantive guidelines to better
deal with killer acquisitions. We need reform here," Giegold
said.
Giegold said the German government planned to give more powers
to the country's cartel office.
"We will look into giving more flexibility to the
Bundeskartellamt in this regard in regard with its market
internal investigations when reforming our national competition
law," he said.
(Reporting by Foo Yun Chee; Editing by Mark Potter)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
