The European Commission heralded its discussion paper on the reform of policy towards dominant companies, published on Monday, as a significant step that should allow such businesses greater freedom to compete.
The paper sets out a policy framework for certain types of abuses by dominant companies and signals a new approach "based on the likely effects of the market" and aimed at "the protection of competition...as a means of enhancing consumer welfare". This suggests the Commission wishes to retreat from some of its more extreme past positions. These are welcome signals. But its approach is too cautious. The Commission has identified the nettle but not yet grasped it.
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