Teresa Ribera Poised to Tackle Big Tech and Boost EU Champions

Teresa Ribera, the Spanish Minister for Ecological Transition, has been nominated by European Commission President Ursula von der Leyen as Europe's new antitrust chief. Ribera will confront major challenges, including managing competition laws and addressing Big Tech compliance issues. Her approval by the European Parliament is pending.

Teresa Ribera is set to face formidable challenges as Europe's potential new antitrust chief. Nominated by European Commission President Ursula von der Leyen, the Spanish Minister for Ecological Transition must now secure European Parliament approval.

If confirmed, Ribera will navigate complex issues involving Big Tech, banks, and airlines while maintaining competitive rules. She will have authority over multi-billion euro mergers and hefty fines for companies exerting market dominance or price fixing. Ensuring tech giants like Amazon, Apple, Google, Microsoft, and Meta comply with new regulations will be a major task.

In addition, Ribera could intensify efforts to curb non-EU state subsidies and handle the popularity of AI amidst Big Tech's existing market control. Her track record includes negotiating critical deals on emissions limits and EU power market rules, reinforcing her credentials for the role.

(With inputs from agencies.)