Mergers & Acquisitions

Following a public consultation launched in July 2019,[1] the Commission adopted a guidance document[2] on the protection of confidential information in proceedings for the private enforcement of EU competition law based on the Antitrust Damages Directive (“ADD”).[3] The Confidentiality Guidance is intended for use by national courts to ensure consistency across Member States regarding access to and the protection of confidential information disclosed in private enforcement proceedings. The Communication is not binding and does not modify the rules applicable in different Member States, but rather outlines a number of measures and tools national courts may employ to help protect confidential information.

On September 16, 2019, the French competition authority (“FCA”) launched a two-month public consultation on revised merger guidelines (“the draft guidelines”), which constitutes the final step of the modernization and simplification of merger control the FCA had initiated in the fall of 2017. This overhaul of the FCA’s merger control guidelines aims to extend the scope of the simplified procedure, update the 2013 guidelines with recent case law and the FCA’s exchanges with the European Commission and other national competition authorities, while reorganizing the guidelines and enriching them with examples. The public consultation was open until November 16, 2019. The new guidelines are scheduled to be adopted before the end of the year.

On August 19, 2019, the German Federal Minister of Economic Affairs, Peter Altmaier, applied the rarely used ministerial right[1] to overrule the FCO’s prohibition of a joint venture between Miba AG (“Miba”) and Zollern GmbH & Co. KG (“Zollern”) and cleared the transaction subject to commitments.[2] The Monopolies Commission, an advisory body to the German federal government, had previously issued a non-binding recommendation to reject Miba’s and Zollern’s request for ministerial clearance.[3]

On 16 August 2019, the CAT ruled on the time limit for the Secretary of State to issue a PIIN (and make a Phase 2 reference) in respect of certain acquisitions of shares in Lebedev Holdings Limited (LHL) and Independent Digital News and Media (IDNM) (see Article above). LHL and IDNM argued that this had been made out of time.

On August 12, 2019, the FCA approved, subject to remedies, the creation of TV platform Salto by TF1, France Télévisions (“FTV”), and Métropole Télévision (“M6”) following a referral by the European Commission. Salto is intended to offer television services, including free-to-air digital terrestrial television (“DTT”) channels and related (e.g. catch-up TV) services and functionalities, together with subscription video on-demand services. Salto’s offering will be distributed directly over the internet (known as “over-the-top” or “OTT”).

On July 18, 2019, the Commission conditionally approved Vodafone’s acquisition of Liberty Global’s cable networks business in Czech Republic, Hungary, Romania, and Germany, following a Phase II review.[1] This case is the latest in a wave of consolidation across the EEA’s telecommunications sector (such as Liberty Global/Ziggo, Vodafone/Liberty Global/Dutch JV, and Altice/PT Portugal).[2]