Analysis-Europe’s push to break Big Tech’s grip tempered by internal debate

European leaders are split over measures to curb Big Tech’s influence as Brussels readies two major moves: an overhauled allocation of mobile satellite spectrum and a Cloud and AI Development Act due to be unveiled on June 3. Compromise language may reserve most satellite frequencies for EU firms while leaving limited access for Starlink and Amazon’s LEO service. Draft cloud rules are expected to restrict — though not fully bar — Amazon, Microsoft and Google from sensitive EU public procurements. Markets may see relative winners among European cloud and satellite providers and pressure on U.S. tech shares with EU exposure, while investors weigh the political risk of transatlantic backlash and the structural €1 trillion investment gap Europe faces versus the U.S.