Group of Seven nations will work together to boost the regulation of global information technology giants as criticism mounts that they are taking advantage of smaller companies by restricting entry to the market, Japanese government sources said Thursday.
Antitrust regulators from G7 member nations have agreed on the need to cooperate on oversight and to crack down on violations as powerful tech companies expand operations globally through mergers and acquisitions, the sources said.
The issue is set to be discussed at the G7 summit meeting in August in France, to be attended by leaders of the U.K., Canada, France, Germany, Italy, Japan and the United States, plus the European Union.