In July 2025, the Commission published its draft Foreign Subsidies Regulation (FSR) guidelines for consultation. The guidelines discuss the FSR’s distortion and balancing tests and the EC’s powers to call in “below threshold” mergers and public tenders for ex ante review.
The Paris Court of Appeal (“Court of Appeals”) has issued its ruling on damages in the Plavix follow-on action brought by France’s national health insurance fund (the “CNAM”) against Sanofi.[1] More than a decade after the French Competition Authority (“FCA”) found that Sanofi had engaged in disparagement practices constituting an abuse of dominant position, the Court awarded the CNAM €150.7 million, reflecting the long-term impact of Sanofi’s conduct. The judgment highlights the magnitude of potential damages in follow-on actions and illustrates how French courts evaluate long-lasting effects and the full-compensation principle.
On January 9, 2025, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) released its decision in a trade and investment barrier investigation into the European Union’s Foreign Subsidies Regulation (“FSR”).
On March 5, 2025, the European Commission (EC) launched a public consultation on the EU Foreign Subsidies Regulation (FSR). The consultation will run to April 2, 2025.
In 2024, the FSR’s first year in operation saw a large number of filings but limited enforcement, with only a handful of Phase 2 reviews, one conditional merger clearance and two ex officio cases. With the FSR now up and running, in 2025, we expect the EC’s focus to be on demonstrating the FSR’s value and delivering practical results by stepping up enforcement, building a corpus of reasoned decisions, and – it is hoped – developing a more streamlined process for non-issue cases.
On January 21, 2025, the French Competition Authority (“FCA”) issued its first opinion on a collective agreement in the private-hire vehicle (“PHV”) services sector.[1] Signed on December 19, 2023 by a trade organization representing two ride-hailing platforms and two driver trade unions, the agreement requires platforms to implement a system allowing drivers to set a minimum income per kilometer for the trip requests they receive. If approved by the Autorité des relations sociales des plateformes d’emploi (“ARPE”), the agreement would be extended across the entire sector. The FCA, asked to assess whether the extension of such system could raise competitive concerns, could not rule it out, notably because only the market leader, Uber, is currently capable of implementing it.
On January 15, 2025, the Paris Court of Appeal issued a decision in a follow-on damages case brought by French retail companies harmed by a cartel, providing clarifications on how financial damages should be calculated to also reflect the deprivation of funds over time and how responsibility should be shared among the undertakings found liable.[1]
On November 13, 2024, the General Court ruled in Case T-141/23 that the Commission failed to meet its obligations under Regulation 2015/1589 (“State aid Procedural Regulation” or “Regulation”),[1] which governs the application of Article 108 TFEU on State aid review in the EU.[2] The General Court held that the Commission’s inaction regarding alleged illegal aid granted by the Kingdom of the Netherlands (“the Netherlands”) to Dutch beam trawlers with pulsed electric currents – prior to the formal ban on electric fishing in the EU in July 2021– constituted a failure to act.
On October 29, 2024, the French Competition Authority (“FCA”) imposed a fine totalling €470 million on manufacturers and distributors of low-voltage electrical equipment (the “Decision”) for vertical resale price fixing.[1] The FCA sanctioned two vertical price agreements (i) between Schneider Electric and its distributors Rexel and Sonepar implemented from December 2012 to September 2018, and (ii) between Legrand and its distributor Rexel from May 2012 and September 2015.