For EU antitrust regulators, rather to break-up tech giants such as Amazon and Google, it should be better if they should consider forcing such companies to share their data with competitors, said the three European Commission enlisted academics on Thursday.
European Competition Commissioner Margrethe Vestager last year appointed those academics to observe the digital challenges and now after their learning into the process and to cope with the changes rapidly occurring in the technology markets, the academics called regulators for faster investigations.
The technological power gained by the tech companies like Facebook, Amazon, Apple and Google to process and analyze data to strengthen their market dominance have caused a worldwide uneasiness, but the current recommendation came against those fears.
Due to growing power of corporate giants, the topic of breaking them up become hot recently, especially after raising of the issue by U.S. democratic presidential contender Elizabeth Warren.
To have the right data might be one of the major factors, important to compete in the digital era, Vestager told a conference organized by the Romanian competition agency.
The academics suggested to make the process of data sharing with competitors by the big tech, could be a solution to hold them back.
Calling for the break-up of dominant players instead, it might be more efficient and attractive way to make it obligatory for them to ensure interoperability of data and that would also provide the regulators to get the advantages of efficient coming out from the integration process, said academics in their report.
Before moving ahead to make further decision about investigations into the tech giants, she would assess the non-binding recommendation made by the academics in their report, said Vestager.
The academics also recommended the regulators to overhaul and strengthen their arguments against the killer acquisition to prevent harm to market competition.
