EU planning tougher regulation for ‘hit list’ of big tech firms: FT

In this news, we discuss the EU planning tougher regulation for ‘hit list’ of big tech firms: FT.

(Reuters) – European Union regulators draw up ‘hit list’ of up to 20 large internet companies, potentially including Facebook Alphabet’s FB.O, Apple AAPL.O, Amazon AMZN.O and GOOGL.O Google, which will face new, tougher rules aimed at reducing their market power, the Financial Times reported on.ft.com/ 34NZ3lW.

Large tech platforms will have to comply with tighter regulations than smaller competitors, the newspaper reported on Sunday, citing people familiar with the talks.

New rules will force companies to share data with their rivals and be more transparent about how they collect information, the report says.

The list will be drawn up based on parameters such as market share and number of users, the newspaper said, adding that the exact number of companies and the precise criteria for the list were still under discussion.

Reporting by Kanishka Singh, editing by Rosalba O’Brien

Original © Thomson Reuters

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