EU Blocks Booking.com's Acquisition, Signaling Tougher Oversight of Tech Deals

EU blocked Booking.com's acquisition of Etraveli, a first for a major European tech company under new antitrust rules.
Shows EU's crackdown on Big Tech applies to EU firms too, not just US companies.
Comes after EU published list of "gatekeepers" subject to new Digital Markets Act rules.
EU wants to grow EU tech giants but not let them acquire market power easily.
Signals tougher merger oversight for tech deals in EU, UK, US to address industry concentration.

wired.com

Relevant topic timeline:

9/7/2023

EU's crackdown on Apple, Meta and others is to avoid forced breakups, top official says

The European Union has announced stricter regulations for U.S. tech giants, including Amazon, Alphabet, Apple, Microsoft, Meta, and ByteDance, but the aim is to avoid forced breakups of these large businesses.

9/25/2023

EU blocks Booking's acquisition of Etraveli over antitrust concerns

The European Union is blocking online U.S. travel company Booking from acquiring Swedish site Etraveli, citing concerns about reduced competition, but Booking plans to appeal the decision.

10/6/2023

U.S. Raises Concerns to EU Over Proposed AI Law Hurting Small Firms

The US has expressed concerns that the European Union's proposed AI regulation law would benefit larger companies and hinder smaller firms, potentially leading to a migration of jobs and investment away from the EU.