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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.
Paris Court of Appeals clarifies the scope of its referral of the TDF/Itas merger back to the FCA
On December 5, 2024,[1] the Paris Court of Appeals (“Court of Appeals”) clarified the scope of its judgment of June 27, 2024, referring back the assessment of TDF’s acquisition of Itas to the French Competition Authority (“FCA”).[2] The Court ruled that the referral was limited to further investigation, while the final decision would be taken by the Court of Appeals (not the FCA).
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
The General Court Upholds Commission’s Clearance of Vodafone’s Acquisition of Liberty Global Assets
Introduction
On November 13, 2024, the General Court dismissed three appeals against the European Commission’s decision conditionally approving Vodafone’s acquisition of Liberty Global’s cable business assets in four EU Member States.[1] Deutsche Telekom, NetCologne, and Tele Columbus brought actions before the General Court seeking the annulment of the Commission’s clearance decision, arguing that the Commission should not have cleared Vodafone’s acquisition subject to behavioral commitments.
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
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.
Divide and Conquer: Reform of The EU Judiciary Splits The Jurisdiction to Deliver Preliminary Rulings Between The Court of Justice and The General Court
On October 1, 2024, amendments to the Statute of the Court of Justice of the European Union entered into effect, ushering in a significant reform to the European judiciary.[1] As a result of the reform, the jurisdiction to issue preliminary rulings has been partially transferred from the Court of Justice to the General Court for cases falling exclusively within six well-established legal areas, including VAT, excise duties, and tariffs. Conversely, the Court of Justice retains jurisdiction to issue preliminary rulings in competition law and other areas which routinely raise complex questions of principle and consistency. The reform is designed to reduce the caseload of the Court of Justice, thereby allowing it to “focus to a greater extent on its role as the supreme and constitutional court of the European Union.”[2]
New Commission Unveiled: What To Expect For Competition?
On September 17, 2024, the President of the European Commission, Ursula von der Leyen, announced the structure of the new Commission and her nominees to serve as Commissioners for the upcoming 5-year term (2024-2029). Each of these nominees will be scrutinized and need to be confirmed by the EU Parliament in the coming weeks.