US Congressional antitrust panel to discuss tech industry competitiveness

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US Congressional antitrust panel to discuss tech industry competitiveness

On Tuesday, the 3rd of September 2019, Senators Mike Lee and Amy Klobuchar, top Democrats chairing the Judiciary Committee’s antitrust panel had issued a statement saying that the Senate’s antitrust panel would be meeting later this month to address a raft of overwhelming concerns related to anti-competitive behaviours of big-league tech titans likes of Google LLC.

and Inc., which had long been exercising a plan to purchase smaller rivals in order to ease competitiveness. On top of that, Senator Amy Klobuchar added in the statement that the hearing was scheduled to take place by the 24th of September, nonetheless, did not disclose the list of witnesses, while addressing to a much-monopolized digital markets, Senator Mike Lee said in a statement issued on Tuesday (September 3rd), “The Subcommittee also is interested in soliciting input from policy analysts, market participants, and other stakeholders on whether legislative action relating to such mergers is needed to ensure digital markets remain competitive.

” Besides, adding that the tech behemoth’s acquisitions had raised serious competition issue, Senator Amy Klobuchar said in her statement, “Big technology companies have become some of the most powerful organizations in the world.

They face little competition and there are numerous examples of the companies purchasing start-up competitors in various lines of business. ”