According to the Financial Times, which broke the story, the regulations are meant to protect companies that rely on Google, Apple or Amazon to sell their services or products.
European policymakers have been exploring ways to target "harmful" trade practices as many small firms in the region have complained that tech behemoths like Google have skewed search results to favor its own services over the services of its competitors. The issue has so far been left for members states to deal with. Of the largest European states, France has distinguished itself as among the most aggressive in trying to push back against the US-domiciled tech giants and their allegedly anti-competitive tendencies.
The regulations are also notable in that they represent the most stringent rules governing search engines' behavior by a developed Western power.