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Market
Market reaction to Booking Holdings 'gatekeeper' designation by Q3 2024
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Resolution / Starting Odds
Stock price increases • 33%
Stock price decreases • 33%
Stock price remains stable • 34%
Stock price data from financial markets
Story
EU Designates Booking as 'Gatekeeper', Subjects it to Strict Regulations After Lobbying for DMA
May 13, 2024, 12:15 PM
The European Commission has designated Booking Holdings, the U.S. company behind the popular travel service platform Booking.com, as a 'gatekeeper' under the Digital Markets Act (DMA). This designation subjects Booking to stringent EU obligations aimed at curbing market power and ensuring fair competition. Ironically, Booking had previously lobbied for the DMA, seeking advantages over competitors like Google. Now, Booking finds itself bound by the same rules it advocated for, with six months to comply and a requirement to submit a detailed compliance report. Additionally, the European Commission has launched an investigation into the social media network X to assess its regulatory status under the same act.
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Major restructuring • 33%
Partnership with other firms • 33%
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Stock Price Increase • 33%
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