The Old Continent's major telecommunications companies have penned a joint letter addressed to the European Commission and ask it to introduce higher fees for Big Tech companies that contribute the most from their internet traffic, such as Netflix Inc. and Alphabet Inc.'s Google, the Financial Times (FT) reported on Monday.
"Future investments are under serious pressure and regulatory action is needed to secure them," the letter obtained by the FT read. "A fair and proportionate contribution from the largest traffic generators towards the costs of network infrastructure should form the basis of a new approach."
The letter was signed by the chief executive officers (CEO) of Deutsche Telekom AG, Orange S.A., Telefonica, S.A., and TIM S.p.A. – Timotheus Hoettges, Christel Heydemann, Jose Maria Alvarez-Pallete, and Pietro Labriola, respectively. BT Group plc's Philip Jansen, Telia Company AB's Allison Kirkby, and Vodafone Group plc's Margherita Della Valle also voiced their support for the cause.