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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.
Following feedback from more than 100 stakeholders, the EU
executive proposed some additions to the rules.
These include greater emphasis on non-price elements such as
innovation and quality of products and services and new guidance
defining digital markets such as multi-sided markets and digital
eco-systems where products are built around a mobile operating
system.
For markets expected to undergo structural transitions, such as
technological or regulatory changes, the rules will take a
forward-looking approach, the Commission said.
There will be need for principles clarifying how markets should
be assessed where companies compete on innovation, including
through pipeline products. This feature mainly targets
pharmaceutical companies.
Interested parties have until Jan. 13 to provide feedback before
the Commission finalises its proposals and adopt the new rules
in the third quarter of 2023.
(Reporting by Foo Yun Chee; Editing by Bernadette Baum)
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