Jurisdictions

On November 10, 2025, the Commission conditionally cleared Abu Dhabi National Oil Company’s (“ADNOC”) c. €15 billion acquisition of German chemicals company Covestro AG (“Covestro”) under the Foreign Subsidies Regulation (“FSR”),[1] following a Phase II review.[2]

On December 10, 2025, the General Court delivered the latest judgment in the long-running Intel saga.[1] The General Court upheld the Commission’s 2023 decision to fine Intel for abusing its dominant position in the market for x86 central processing units (“CPUs”) between October 2002 and December 2007 through ‘naked restrictions,’[2] but reduced Intel’s fine from €376 million to €237 million to reflect the “temporal and material scope of the infringement”.

Following a complaint by Eurotunnel operators France Manche SA and The Channel Tunnel Group on June 25, 2021, the French Competition Authority (“FCA”) examined allegations that DFDS and P&O Ferries had entered into an anticompetitive capacity-sharing agreement on the Calais–Dover route.

On November 1, 2025, the Commission issued a policy brief[1] in which it rejected calls to extend the legal professional privilege to in-house counsel communication. The Commission examined the question after stakeholders called for such an extension as part of the revision process of the regulation governing antitrust investigation, Regulation 1/2003.[2]

As part of our response to the European Commission’s consultation on possible reforms to its merger control guidelines,[1] we submitted our observations on Topic Paper G – Public Policy, Security, and Labour Market Considerations.

On 16 October 2025, the CMA launched a public consultation on its draft revised Merger Remedies Guidance (the Draft Guidance).[1]  The revision reflects the Government’s call for a more business-friendly, pro-growth approach to merger control.[2]