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EU seeks new powers to penalize tech giants: report

An employee enters sliding doors decorated with the stars of the European Union (EU) flag at the Berlaymont building, headquarters of the European Commission (EC), in Brussels, Belgium, on Tuesday, Jan. 28, 2020. It took 32 months, two prime ministers, and nearly 30 votes in Parliament to extricate Britain from the European Union and the hardest part of the negotiations hasn't even started.
Bloomberg

The European Union wants to arm itself with new powers to penalize big technology companies, the Financial Times reported on Sunday.

The proposed plan includes forcing tech giants to break up or sell some of their European operations if their market dominance is deemed to threaten the interests of customers and smaller rivals, the newspaper said.

EU Internal Market Commissioner Thierry Breton, in an interview with the FT, said the proposed remedies, which would only be used in extreme circumstances, also include the ability to exclude large tech groups from the single market altogether.

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