FCO Finds That Microsoft’s Hiring of Key Inflection Employees and Licensing of Inflection Technology Constitutes a Reportable Concentration, but Declines Jurisdiction Due to Lack of Sufficient Local Nexus
On November 29, 2024, the German Federal Cartel Office (“FCO”) concluded that Microsoft’s hiring of nearly all of Inflection AI, Inc.’s (“Inflection”) employees together with agreements on financing and the use of Inflection’s intellectual property amounted to a “concentration” under German merger control law. However, due to the lack of “substantial domestic operations” at the time of the acquisition, the FCO declined jurisdiction to review the case.[1]
Learnings from Vodafone/Three
The UK Competition and Markets Authority (CMA) has cleared the Vodafone/Three[1]merger subject to behavioural remedies. The transaction will bring together two of the four largest UK mobile network operators and potentially transform the UK telecoms landscape. The CMA’s approval decision comes against the backdrop of widespread scepticism of consolidation in the mobile telecommunications sector across Europe. It also departs from the CMA’s previous policy of seeking structural remedies to address competition issues and blocking problematic deals where no structural remedy could be found.
Antitrust Review Episode 35: Looking Back at Commissioner Vestager and Forward to Commissioner Ribera
In the latest instalment of our Antitrust Review podcast, host Nick Levy is joined by colleagues from Cleary Gottlieb’s Brussels…
DOJ Antitrust Creates Guidance for Evaluating Antitrust Compliance Programs
On November 14, 2024, the U.S. Department of Justice (“DOJ”) Antitrust Division (the “Division”) released guidance for the Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations (the “Guidance”). The Guidance will be used by the Division in assessing the adequacy and effectiveness of a company’s antitrust compliance program when making a charging or resolution decision.[1]
Antitrust Review Episode 34: What to Expect under President Trump
In the latest instalment of our Antitrust Review podcast, host Nick Levy is joined by two veteran observers of US…
Antitrust Review Episode 33: In Conversation with Brian McHugh
In the latest instalment of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by Brian McHugh, Chair of…
FIFA vs. BZ: Court of Justice Declares No-Poach Agreements “By-Object” Infringements
On October 4, 2024, the Court of Justice delivered its preliminary ruling in a case involving Federation Internationale de Football Association (“FIFA”) and a former professional football player.[1] The Court of Justice found that certain provisions within FIFA’s transfer rules, specifically those related to the termination of player contracts, had the same effect as no-poach agreements and, therefore, constituted “by-object” infringements of EU competition law.
EU Commission Appoints New Chief Competition Economist
On October 2, 2024, the European Commission appointed Emanuele Tarantino as new Chief Competition Economist at DG COMP. Tarantino is expected to take office in a few weeks, coinciding with Teresa Ribera’s arrival as the new Commissioner for Competition.
General Court Cans Crown and Silgan Appeals Against The Commission’s Metal Packaging Cartel Decision
On October 2, 2024, the General Court dismissed Crown’s and Silgan’s respective appeals[1] against a 2022 Commission decision imposing a total fine of €31.5 million for participating in a cartel concerning the sales of metal cans and closures in Germany between 2011 and 2014.[2] The judgments serve as a reminder of the General Court’s tendency to defer to the Commission’s cartel enforcement practice, including on the conditions for accepting case referrals from national competition authorities, particularly in cases that were initially settled by the applicants.