Booking.com calls for smart regulations
The company has voiced concerns on the current regulatory environment in Europe, saying it could stifle innovation and investment
In recent months, European lawmakers have made decisions that have not favored the company. These include the blocked acquisition of Etraveli and the looming possibility of being labeled a digital gatekeeper under the Digital Markets Act. Speaking at ITB Berlin, Glenn Fogel acknowledged that the company's size has made regulators scrutinize its deals more closely, though he emphasized that it's relatively small compared to the overall market.
Key takeaways
- Despite Fogel's explanation, regulators were not swayed in the case of the Etraveli decision, leading Booking to announce its intention to appeal.
- Fogel expressed a desire for "smart regulations," expressing concern that regulatory attitudes might deter venture capitalists from investing in the region.
- He also voiced frustration regarding the Digital Markets Act and indicated that the company is actively engaging with regulators to clarify the implications of being labeled a gatekeeper.
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