CAPTION: Federal Minister of Economics Peter Altmaier (CDU).(picture alliance/Christoph Soeder/dpa/archive)
The considerations of the German Economics Ministry to make takeovers of smaller startups by larger internet firms more difficult have encountered skepticism among German businesses. The proposed restrictions on the sale of companies harbors the danger of achieving the opposite of the desired effect, Germany’s Federal Association of Artificial Intelligence said on Wednesday in Berlin. “Investors will be scared off and startup founders motivated to move abroad already in early phases of creating their business,” the association said in their statement.
German Economics Minister Peter Altmaier of Chancellor Angela Merkel’s Christian Democrats (CDU) received the results of a study on adjusting Germany’s competition laws on Tuesday. There experts recommend amending competition law in order to curb the market power of US-based internet giants like Google. According to their recommendations, Germany’s cartel authorities should not only be allowed to intervene when companies already occupy a dominant position on the market. The authors of the study also proposed tighter controls for company takeovers.
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