The CMA has already taken measures to curb the power of Big Tech, including preventing Facebook from purchasing image firm Giphy and investigating whether Amazon and Google are doing enough to prevent fake reviews being posted online.
Addressing the Institute of Economic Affairs as part of a lecture series, he said: "It is important to bear in mind that structural remedies - break-ups - are in play if [new] regulation does not deliver. In particular, structural remedies become increasingly attractive to us if other jurisdictions are also interested in structural solutions."
The CMA houses the new Digital Markets Unit, a new regulatory body which will gain powers to take on the tech giants when parliament passes legislation next year.
In the USA similar measures are also being taken to prevent large tech companies from monopolising the digital market. US President Joe Biden signed an executive order in July to curb corporate monopolies and promote competition. Speaking at the launch of the initiative, Biden said: “Capitalism without competition isn't capitalism. It's exploitation.”
Keep up-to-date with publishing news: sign up here for InPubWeekly, our free weekly e-newsletter.