By Edith Hancock

The European Union and U.K. are finalizing talks that will let both regions' competition watchdogs work together more closely on the back of a fresh trade and security agreement.

The European Commission said Tuesday that the agreement will give regulators on either side of the English Channel a clear framework for cooperation on competition matters when enforcing EU rules, and sets out that they will flag important antitrust and merger investigations to each other. The deal also allows regulators to coordinate on cross-border probes.

Regulators in the EU and the U.K.'s Competition and Markets Authority will still need to get companies' consent to access confidential information, the EU executive said.

This comes after the EU and U.K. on Monday signed a deal to ease trade and bolster security cooperation in a move to significantly improve the relationship between the two sides since the U.K.'s divorce from the bloc.

Both the EU and U.K. are also in the early stages of enforcing new antitrust legislation designed to rein in the market power of the world's most powerful tech companies.

"This agreement shows our shared and strong commitment to continue working together for effective and balanced competition enforcement, including in the digital sector, and to ensure a level playing field in Europe," Teresa Ribera, the EU's top antitrust enforcer, said.

Write to Edith Hancock at edith.hancock@wsj.com

(END) Dow Jones Newswires

May 20, 2025 07:35 ET (11:35 GMT)

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