EMEA region brings roughly 30% of the revenue for Alphabet. EU alone probably 25% of that. US is 47%. For a company that benefits from network externalizes a

EMEA region brings roughly 30% of the revenue for Alphabet. EU alone probably 25% of that. US is 47%. For a company that benefits from network externalizes a much as Alphabet does, revenue alone is not good measure of market importance. Losing one market means that market share in all markets is threatened and company growth is in peril. In practice EU probably will not explicitly demand company break up. They wold create conditions that effectively break up the company inside EU. It's up to the owners to decide how they arrange it in the practice. First Alphabet might have to choose what its main business is (= search) then all other businesses and services are separated from the search into different entities when they operate inside EU or serve customers inside EU. This would include Google Play, Youtube, Android, user accounts, ad placements, and ad sales generated from the EU. This would break the platform synergy. Negotiators might leave carrots that make it easier for Alphabet preserve it's stock valuation if it rolls over and yields to most demands.