It is in their hands to have access to billion dollar markets to grant or deny because they have a. due to their market power and intermediation power “Gatekeeper” position hold. Whole service and economic sectors are increasingly monopolized at the expense of stationary retail and small and medium-sized enterprises.
Amendment to the law against restrictions of competition
The so-called GWB digitization law counteract, more precisely, the “draft law amending the law against restraints of competition for a focused, proactive and digital competition law 4.0 and other competition law provisions ”. The federal government approved this draft law presented by the Federal Ministry for Economic Affairs and Energy today.
“Digitization is changing business models, markets and the economic balance of power ever faster. The corona pandemic has shown us once again how the importance of digital business models has grown and continues to grow. We are responding to this with the GWB Digitization Act, ”said Federal Minister of Economics Peter Altmaier.
“Large, dominant digital companies are being subjected to stricter abuse control. We create the possibility that the cartel office can react more quickly with interim measures – because once a market is distributed, it is no longer of any use to an ousted company after years if a violation of a competitor that is now dominant is found. Medium-sized companies will also be relieved of the burden of merger control and will be given more legal security so that they can take advantage of the opportunities offered by digitization, ”Altmaier continued.
The requirements of the coalition agreement are followed
The 10th amendment to the Law against Restraints of Competition takes up proposals from a study commissioned by the BMWi on the “Reform of Abuse Control” and the work of the “Commission Competition Law 4.0”. The changes provided for in the GWB Digitization Act also implement the provisions of the coalition agreement. Of the Draft of the GWB digitization law is now forwarded to the Bundestag and Bundesrat.