You can't legislate away practical constraints like economies of scale or basic economics. The Soviets and Maoists tried that and it doesn't work. Also at this sort of scale, of big international business, they are, well, international. Europe can legislate itself into an artificially divided, segregated, politically engineered economic corner as much as it likes but that won't help it's companies compete in America, or China, or anywhere else.

Can’t compete, let’s legislate? I can only shake my head

Well, making the European economy competitive (in your view, not mine) would also require legislation, so I guess shaking your head is just your thing that you would do anyway?

So you favor the monopolies that some American companies have in some markets?

Countries don't compete, they make the rules.