Study On Anti-monopoly Regulation Of Mergers And Acquisitions Of Platform Company

Since the 21 st century,a large number of Mergers and Acquisitions(Hereinafter referred to as M&A)have been carried out by platform companies worldwide,which have not only strengthened the position of large platform companies in their respective fields and neighbouring fields,but also created business giants spanning a wide range of businesses.In China,the M&A of platform companies,represented by "BAT",are becoming more and more frequent.On one hand,M&A by platform companies can bring about scale effect and improve resource utilization.On the other hand,it can also enhance the market power of platform companies and bring about substantial monopoly,thus undermine market competition and harm consumer welfare.However,the anti-monopoly regulation of M&A of platform companies in China is still inadequate,which is not commensurate with the development of the rapidly changing platform economy.By exploring the characteristics of M&A of platform companies,this paper shows that M&A of platform companies is closely related to monopoly.In the face of the problems in the anti-monopoly regulation of M&A of platform companies,this paper examines the current situation of anti-monopoly regulation of M&A of platform companies in the United States and the European Union,summarizes the experiences that can be referred to and learned from,and puts forward suggestions for improving the anti-monopoly regulation of M&A of platform companies in China on this basis.Specifically,improving the ex ante regulatory regime for M&A of platform companies,establishing a system for identifying the motives of M&A of platform companies,establishing the principle of presumption of illegality,clarifying the burden of proof of platform companies in the anti-monopoly review,and timely suppressing the M&A of platform companies with monopoly tendency;adjusting the declaration threshold for anti-monopoly review of M&A of platform companies,introducing transaction price criteria in addition to the turnover notification threshold,stipulating special notification obligations for super-platform companies and improving the classification review system;reinforcing the status of regulators and improving the ex post supervision system for M&A of platform companies to protect the development of small and medium-sized companies and promote market competition;reasonably applying the fine standards established by the new Anti-Monopoly Law of the People’s Republic of China to effectively reduce or curb potential damages from M&A of platform companies.