On October 12, 2023, the notification obligations under the EU Foreign Subsidies Regulation (FSR) took effect. Businesses must notify all M&A deals (if signed on or after July 12 and not yet implemented by October 12) and public procurement tenders (for offers submitted on or after October 12) meeting the relevant thresholds.
In the latest episode of Cleary’s Antitrust Review, host Nick Levy is joined by Alberto Bacchiega, Director of the Commission’s
On October 5, 2023, Advocate General Rantos delivered his opinion on two questions referred to the Court of Justice by the Portuguese Competition, Regulation and Supervision Court (the “referring court”).[1] The referring court seeks clarification on whether a ‘standalone’[2] exchange of information between competitors can be classified as a restriction by object under Article 101 TFEU, and whether that classification is permitted where it has not been possible to establish any uncertain or procompetitive effect on competition resulting from the exchange. The case gives the Court of Justice an opportunity to clarify its recent evolution from a broad and formalistic interpretation of the concept of a restriction by object to a narrower, more pragmatic interpretation of that concept.[3]
In the latest instalment of Cleary’s Antitrust Review, host Nick Levy is joined by Dr. Jorge Padilla, one of Europe’s
On September 22, 2023, the European Commission (“the Commission”) re-adopted parts of its 2009 Intel decision[1] and imposed a fine of €376 million on Intel for abusing its dominance in x86 central processing units (“CPUs”) through naked restrictions.[2] The re-adopted decision follows the General Court’s 2022 renvoi judgment, which overturned the €1.06 billion fine that the Commission had originally imposed on Intel in 2009.[3] It marks the latest—but certainly not the last—development in a saga spanning over 20 years.
The Digital Markets Act (DMA) is a landmark piece of legislation granting unprecedented powers to the European Commission to regulate large digital platforms. The DMA targets platforms that operate as gatekeepers between businesses and users, hold an “entrenched and durable position,” and operate one or more core platform services (CPSs).
Cleary Gottlieb partner Nicholas Levy and associates Anita Magraner Oliver and Conor Opdebeeck-Wilson co-authored the “European Union” chapter in The
On August 17, 2023, the European Commission (EC) decided to review Qualcomm’s acquisition of the Israeli-based semiconductor company Autotalks, even though the deal was not reportable at EU or Member State level. Just one day later, on August 18, 2023, the EC also accepted jurisdiction over another non-reportable deal – European Energy Exchange’s (EEX) acquisition of Nasdaq’s European power trading and clearing business (Nasdaq Power).
On June 29, 2023, the Court of Justice ruled on questions referred by the Lisbon Court of Appeals relating to alleged resale price maintenance (“RPM”) by Super Bock, a Portuguese beverage manufacturer.[1] The Court of Justice held, inter alia, that a vertical agreement fixing minimum prices is not necessarily a restriction of competition by object despite its characterization as a “hardcore restriction” under the Vertical Block Exemption Regulation (“VBER”)[2] and, in certain circumstances, the existence of an agreement may be inferred from “explicit or tacit acquiescence” by the distributors to an invitation to comply with minimum resale prices.[3]
On July 4, 2023, the Commission conditionally approved, in Phase I, Advent’s acquisition of market research provider GfK through its subsidiary NielsenIQ, after Advent pulled and refiled the merger notification.[1] The approval is subject to the divestment of GfK’s global consumer panel services (“CPS”) business, excluding Russia.[2]