Microsoft (MSFT), Google (GOOG) (GOOGL), Amazon (AMZN), Meta Platforms (META) and Netflix (NFLX) are among the technology companies who are set to obtain reprieve from an overhaul of the European Union’s digital rules, Reuters reported, citing people familiar with the matter.
The E.U. is set to implement a rule, known as the Digital Networks Act, on Jan. 20 that will increase Europe’s competitiveness and provide investments in telecom infrastructure. Instead of being forced to comply with the act, as the telecom companies will have to, the tech companies only have to voluntarily comply with the act, the news outlet added, citing its sources.
Under the act, the European Commission will dole out details for licensing spectrum, including selling it and how the auctions to sell spectrum will go across the E.U. and its 27 countries. In addition, the act will let E.U. governments go past the 2030 deadline to replace copper networks if they are unable to, the people added.
Microsoft, Google, Amazon, Meta, and Netflix did not immediately respond to a request for comment from Seeking Alpha.
