On January 14, 2019, the Council of State confirmed the first-instance court judgment and thus annulled the ICA decision,[1]
Industries
The Spanish Supreme Court Confirms the Annulment of a €120 Million Fine Imposed by the CNMC on Telefonica, Vodafone and Orange for Abuse of Dominance in the Wholesale Markts for Termination of SMS and MMS
By Cleary Gottlieb on
In three judgments delivered in December 2018 and January 2019, the Spanish Supreme Court confirmed the annulment of fines amounting to a total of €120 million imposed on the three main telecoms operators in Spain (i.e., Telefónica, Vodafone and Orange) for abuse of dominance in the wholesale markets for the termination of text messages (“SMS”) and multimedia messages (“MMS”).[1]
Vivendi/Editis
By Cleary Gottlieb on
On January 2, 2019, the FCA authorized the acquisition by the Vivendi Group of the Editis Group, which owns 13 literary publishing houses operating the brands Fleuve, Julliard, Le Cherche Midi, Plon, Robert Laffont, Bordas and Nathan, among others.[1]
2018 Review
By Cleary Gottlieb on
CMA Activity
As in 2017, the CMA leadership devoted much of 2018 to preparing for Brexit – publishing draft regulations, revising guidance, and increasing the CMA’s workforce.
Commission Continues to Target Aggressive Tax Arrangements for Multinationals
By Cleary Gottlieb on
The Commission continues its policy of targeting aggressive tax arrangements for multinationals (Apple[1]—Irish tax benefits case; Engie[2] and McDonald’s[3]—Luxembourg tax benefits cases) as can be seen from the opening of a state aid investigation into a tax ruling granted by the Netherlands to Nike.
2018 Year-End Review: Record Amount of Competition Fines, Cartels Fines on the Decline, Increased Practice of Pull-and-Refile in Mergers
By Cleary Gottlieb on
The Commission issued fines totaling €6.5 billion in 2018, which is a new record and almost double the amount of competition fines in 2017.
The Council of State Reduces the ICA’s Fine on a Cement Manufacturer
By Cleary Gottlieb on
On December 31, 2018, the Council of State upheld the ICA’s infringement decision in the Cement cartel case,[1] but…
2018 Year-end Review: Record Amount of Competition Fines, Cartels Fines on the Decline, Increased Practice of Pull-and-Refile in Mergers
By Cleary Gottlieb on
The Commission issued fines totaling €6.5 billion in 2018, which is a new record and almost double the amount of competition fines in 2017.
Cash Paris Tax Refund/Global Blue/Planet Payment
By Cleary Gottlieb on
On December 28, 2018, the FCA authorized, subject to commitments, the creation of the Cash Paris Tax Refund joint-venture by Global Blue and Planet Payment.[1]
The French Competition Authority Issues a Notice Concerning Settlement Proceedings
By Cleary Gottlieb on
Three years after the introduction of a settlement procedure in its legal arsenal, the FCA has issued guidelines on the conduct of settlement proceedings (the “Settlement Notice”). The Settlement Notice aims at clarifying the framework under which companies may be granted fine reductions in the context of antitrust investigations. However, several questions are still pending, including the determination of the final amount of the fine by the FCA’s Collège and the impact of settlement proceedings on follow-on damages claims.