‘Killer’ tech deals face Franco-German demand for crackdown

Three EU nations' ministers including Germany's Peter Altmaier called on stricter regulation against tech giants to stop them from buying up smaller companies to stifle competition. — REUTERS

Germany, France and the Netherlands demanded tougher rules to police acquisitions of smaller rivals by large technology companies in the European Union.

While proposals to rein in digital giants’ M&A were bolted on to draft EU legislation targeting the tech industry, the current plan "lacks ambition,” ministers for the three nations said in a joint paper published Thursday.