U.K. Finance Minister Philip Hammond urged the Competition and Markets Authority to launch a review of Britain's digital advertising market.
The U.K.'s competition watchdog should examine the dominance of tech companies like Facebook and Google in digital advertising"as soon as possible," Britain's finance minister said.
Hammond welcomed the findings of a U.K. government report published on Wednesday that recommended Britain's competition rules"must be updated for the digital age." The 150-page report stopped short of calling for a break-up of big tech but found companies like Google, Facebook, Amazon, Apple and Microsoft are stifling innovation and limiting consumer choice.
The CMA said on Wednesday it is considering whether to undertake work in the digital advertising sector but added its ability to launch new projects is"heavily dependent on the outcome of EU Exit negotiations."
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