SAN FRANCISCO (Reuters) – Shareholder activists want Google parent Alphabet Inc to break itself up before regulators force the world’s biggest internet ad seller to split into different pieces.
SumOfUs, a U.S.-based group that aims to curb the growing power of corporations, is set to make that proposal at Alphabet’s annual shareholder meeting on Wednesday at an auditorium at the company’s offices in Sunnyvale, California.
“Officials in the US & EU continue to be concerned about Alphabet’s market power in view of restrictions on monopolies,” the proposal reads. “We believe that shareholders could receive greater value from a voluntary strategic reduction in the size of the company than from asset sales compelled by regulators.”
The proposal has no realistic chance of success as Alphabet’s top two executives, Larry Page and Sergey Brin, hold 51.3 percent of shareholder votes.
Nevertheless, it shows a growing focus on the prospect of antitrust action against Alphabet…