In the latest instalment of the Cleary Gottlieb Antitrust Review podcast, host Nick Levy is joined by Saverio Valentino, Board member of the Italian Antitrust Authority. The conversation covers Saverio’s first year in the role, the agency’s current priorities, merger control and FDI regulation, cartel enforcement, rights of defence, judicial review, and much more.
Mergers & Acquisitions
Antitrust Review Episode 22: In Conversation With Sarah Cardell
In the latest instalment of the Cleary Gottlieb Antitrust Review podcast, host Nick Levy is joined by Sarah Cardell, Chief Executive of the Competition & Markets Authority. Their conversation covers a range of topics, including her first year in the role, merger control, Microsoft/Activision, cartel enforcement, judicial review, international coordination, sustainability, and her plans for the future.
China Introduces Revisions to Merger Notification Thresholds
Antitrust Review Episode 20: In Conversation With Gina Cass-Gottlieb
In the latest episode of Antitrust Review, host Nick Levy is joined by Gina Cass-Gottlieb, Chair of the ACCC, the Australian Competition and Consumer Commission.
Antitrust Review Episode 19: In Conversation With Bruce Hoffman & Dave Gelfand
In the latest instalment of the Cleary Gottlieb Antitrust Review podcast, host Nick Levy is joined by Bruce Hoffman, Director…
FCO Declares OpenAI/Microsoft Cooperation (Currently) Not Subject To Merger Control
On November 15, 2023, the German Federal Cartel Office (“FCO”) concluded that Microsoft’s investments in and cooperation with OpenAI, Inc. (“OpenAI”) do not constitute a notifiable merger under German law. [1]
European Court of Justice Confirms Altice’s Gun-Jumping Violation
On November 9, 2023, the European Court of Justice dismissed, on most grounds, [1] Altice’s appeal against the General Court’s judgment[2] upholding the European Commission’s decision, in 2018,[3] to fine Altice €124.5 million for gun-jumping violations in connection with its acquisition of PT Portugal. The Court of Justice confirmed that Altice breached the EU Merger Regulation’s notification and standstill obligations by acquiring and exercising decisive influence over PT Portugal prior to obtaining Commission approval. The Commission had fined Altice €62.25 million for each of the two infringements. The Court of Justice reduced one of the fines by about €10 million on account of the Commission’s failure to properly state reasons, but the judgment supports the trend toward strict enforcement of EU rules against early implementation of M&A transactions.[4]
Antitrust Review Episode 17: In Conversation With Dr. Jorge Padilla
In the latest instalment of Cleary’s Antitrust Review, host Nick Levy is joined by Dr. Jorge Padilla, one of Europe’s…
The Merger Control Review, Ed. 14 – European Union
Cleary Gottlieb partner Nicholas Levy and associates Anita Magraner Oliver and Conor Opdebeeck-Wilson co-authored the “European Union” chapter in The…
European Commission asserts merger control jurisdiction over non-reportable deals for first time after Illumina/Grail
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).