{"id":61168,"date":"2023-09-15T00:52:54","date_gmt":"2023-09-15T04:52:54","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/business-as-usual-for-eu-antitrust-regulators-despite-vestagers-absence\/"},"modified":"2023-09-15T00:52:58","modified_gmt":"2023-09-15T04:52:58","slug":"business-as-usual-for-eu-antitrust-regulators-despite-vestagers-absence","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=61168","title":{"rendered":"Business as usual for EU antitrust regulators despite Vestager’s absence"},"content":{"rendered":"
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\u00a9 Reuters. European Commission Executive Vice President Margrethe Vestager speaks during a press conference in Brussels, Belgium June 14, 2023. REUTERS\/Yves Herman\/File Photo<\/span>
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By Foo Yun Chee<\/p>\n

BRUSSELS (Reuters) – Companies being investigated for anti-competitive practices or billion-euro deals will continue to face rigorous EU scrutiny despite the temporary absence of antitrust supremo Margrethe Vestager, officials and industry executives said on Thursday.<\/p>\n

Vestager took unpaid leave last week in a bid to become the first woman president of the Luxembourg-based European Investment Bank (EIB), which doles out millions in loans, guarantees and equity investments to countries. <\/p>\n

Her antitrust portfolio, which include ongoing investigations into Alphabet (NASDAQ:)’s Google, Amazon (NASDAQ:), Apple (NASDAQ:), Meta Platforms (NASDAQ:) and Microsoft (NASDAQ:), was subsequently assigned to EU justice chief Didier Reynders.<\/p>\n

The Belgian commissioner will decide on Photoshop maker Adobe (NASDAQ:)’s $20 billion bid for Figma, Amazon’s $1.7 billon acquisition of robot vacuum cleaner maker iRobot (NASDAQ:), and other high-profile deals.<\/p>\n

His dossier also includes alleged cartels involving Volkswagen (ETR:), Renault <\/span><\/span> (EPA:) and other carmakers; between perfume manufacturers Givaudan, Firmenich, International Flavors & Fragrances (NYSE:), Symrise; and between fashion companies. <\/p>\n

EU antitrust enforcers won’t be going soft under Reynders, said a senior Commission official.<\/p>\n

“Don’t expect a caretaker commissioner to change the policy line. I don’t expect wild things in the coming weeks. We have a framework in which we operate, established by Vestager,” the official said on condition of anonymity.<\/p>\n

“We don’t have time to start a new policy.”<\/p>\n

Another senior Commission official concurred, saying cases are driven very much by the process, with no changes expected in coming weeks.<\/p>\n

For one major company already in the Commission’s crosshairs, Vestager’s absence was definitely not a topic of conversation in its office.<\/p>\n

“Literally I haven’t heard a single person mentioned it. She’s only going to be gone a few weeks,” an executive said, referring to speculation on Vestager’s low chances of securing the EIB job and subsequent return to her post.<\/p>\n

Another company which faces regulatory heat was unfazed with the situation.<\/p>\n

“Cases are moving, it’s very process driven, the Commission services can move things along regardless of who is the competition commissioner,” said an executive.<\/p>\n

The Commission said it “seamlessly continues to develop and enforce competition policy.”<\/p>\n

Lobbying group DigitalEurope, which represents more than 45,000 businesses operating in Europe, decline to comment. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. European Commission Executive Vice President Margrethe Vestager speaks during a press conference in Brussels, Belgium June 14, 2023. REUTERS\/Yves Herman\/File Photo By Foo Yun Chee BRUSSELS (Reuters) – Companies being investigated for anti-competitive practices or billion-euro deals will continue to face rigorous EU scrutiny despite the temporary absence of antitrust supremo Margrethe Vestager, […]<\/p>\n","protected":false},"author":1,"featured_media":5023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-61168","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBusiness as usual for EU antitrust regulators despite Vestager's absence | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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