Tough new rules targeting U.S. tech giants agreed late on Thursday are expected to come into force in October, EU antitrust chief Margrethe Vestager said on Friday.
Fines for violations range from 10% of a company's annual global turnover to 20% for repeat offenderswhich could face an acquisition ban.
"And with the processes foreseen, these pieces of legislation, well, they will have been voted in and publicised in the Official Journal, so coming into force sometime in October," Vestager told a news conference. Companies that are designated as online gatekeepers which control access to their platforms and the data generated there will have six months to comply with the new rules.Reporting by Foo Yun Chee. Editing by Jane MerrimanSign up to our tech newsletter to get the latest news and trends in the global technology industry.
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