EU competition policy supports company scaling – Von der Leyen

European Commission President Ursula von der Leyen announced plans to overhaul EU competition policy to support companies in scaling up and enhancing global competitiveness.

In a statement to the European Parliament on Thursday, von der Leyen proposed a new approach that aligns with shared goals while maintaining a fair marketplace.

Von der Leyen stressed the necessity of a competition policy that supports innovation and resilience, hinting at possible changes to merger regulations during her expected renewal in leadership. Telecom providers have advocated for eased regulations amidst concerns over consolidating market players.

EU lawmakers are set to vote on von der Leyen’s re-election, reflecting ongoing policy shifts. She also underscored plans to strengthen enforcement of the Digital Markets Act, targeting Big Tech dominance, and the Digital Services Act, aimed at combating illegal online content.

The proposals highlight a proactive stance to adapt EU policies in the face of evolving global economic dynamics and technological challenges.

Attribution: Reuters.