Billion-Dollar Fines Don’t Hurt Tech Giants, Ex-EU Enforcer Says
- Madero says tech giants ‘hate’ EU’s remedies to fix concerns
- Says ‘extremely ambitious’ rules ‘are going to happen’
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Silicon Valley is more worried about being forced to change how it does business than mega antitrust fines, according to the European Union official who pushed through landmark decisions against Microsoft Corp., Intel Corp. and Google.
While a 1.06 billion-euro ($1.2 billion) fine for Intel in 2009 sent a “big message” to tech giants, levying such costs isn’t the most important thing regulators can do, said Cecilio Madero Villarejo, who retired last month from his role as a deputy director-general in the European Commission’s competition authority.