AMSTERDAM – On Thursday, the Dutch market regulator said it needed more powers to investigate deals at its own level, a day after the European Union antitrust regulators said they would not take action against Microsoft’s (NASDAQ: MSFT) hiring of artificial intelligence startup Inflection’s staff.
In a statement, the Netherlands Authority of Consumers and Markets (ACM) said it remained to be seen if that deal would have any “negative consequences” for consumers and businesses in the country.
“That is why we believed that an investigation was necessary. The ability to assess the effects of these types of acquisitions and to prevent market power does not exist at this moment,” said Martijn Snoep, ACM’s chairman of the board.
“In order to be able do so, ACM requires a new power. It would also restore the ability of ACM to refer these types of acquisitions that have effects across Europe to the European Commission.”
(Source: Reuters)
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
