The UK Government has published its long-awaited Digital Markets, Competition and Consumer Bill, including a wide-ranging and far-reaching set of reforms to UK competition and consumer law, along with a new regulatory regime for digital markets.
Antitrust Review Episode 12: In conversation with Henri Piffaut
In the latest episode of Cleary Gottlieb’s Antitrust Review, host Nick Levy is joined by Henri Piffaut, Vice-President of the
The Commission Looks Back at Aegean Airlines/Olympic Air
In 2021, the Commission announced that it would revisit 15-25 merger decisions adopted between 2012 and 2018 to evaluate whether its predictions during the merger control process regarding entry, expansion and imports materialized ex post, with the assistance of an external contractor.[1] In February 2023, the Commission issued a request for information in the context of this study, seeking information about the effects of the acquisition by Aegean Airlines of Olympic Air—one of the rare cases in which the regulator accepted the “failing firm” defense.[2] It has been reported that the Commission has also sent questionnaires regarding Orange/Jazztel,[3] Ryanair/Aer Lingus,[4] Ineos/Solvay.[5] The final report is scheduled for publication later this year.[6]
Altice Defends its Appeal of the General Court’s Decision to Uphold Record Gun-Jumping Fine in a Hearing before the Court of Justice
On February 1, 2023, the Court of Justice held a hearing in Altice’s appeal against the General Court’s decision in 2021 to largely uphold the Commission’s record fine for gun-jumping in the Altice/PT Portugal transaction.[1] Altice’s defense at the hearing hinged on three claims: (i) the Commission wrongly fined Altice twice for failure to notify and for breaching the standstill obligation; (ii) Altice did not acquire veto rights, and therefore control, by signing the Share Purchase Agreement (“SPA”); and (iii) the Commission breached the principle of proportionality by failing to explain its reasoning in setting the fines.
Antitrust Review Episode 11: In Conversation With Sir Philip Lowe
In the latest episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy interviews Sir Philip Lowe, former Director-General of DG COMP.
Antitrust Review Episode 10: In Conversation With Guillaume Loriot
In our latest episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy interviews Guillaume Loriot, who, following a 20-year career at DG COMP, is now the EC’s Deputy Director-General for Mergers.
FCO’s Annual Report 2021/2022: The Digital Economy And Antitrust Enforcement In Times of Crisis
On August 30, 2022, the Federal Cartel Office (“FCO”) published its Annual Report 2021/2022.[1] Andreas Mundt, the President of the FCO, pointed out two areas of the FCO’s focus: First, the collusion of undertakings under the guise of inflation and Russia’s war against Ukraine. Second, to use the flexibility of antitrust law to allow for a degree of cooperation that is necessary in times of crisis. Moreover, the FCO continues to pursue its digital agenda for the digital economy and the protection of consumer rights.
2023 Update: U.S. Antitrust Sets Sail into Uncharted Seas
Last year we noted that U.S. antitrust enforcement was in a period of nearly unprecedented public attention and policy debate, and also that the Biden Administration seemed likely to launch significant new policy initiatives as the year progressed.
The French Competition Authority opens an in-depth investigation into the proposed creation of an airport catering joint venture between Aéroports de Paris and British caterer Select Service Partner
On January 9, 2023, the French Competition Authority (“FCA”) opened an in-depth (“Phase 2”) investigation into the proposed creation, by Aéroports de Paris (“ADP”) and British caterer Select Service Partner (“SSP”), of a full-function joint venture for the operation of catering services at Paris-Orly and Paris Roissy-Charles de Gaulle airports.[1]
HSR Filing Fee Changes Impose New Tax on M&A Activity
The recent Consolidated Appropriations Act of 2023 includes significant changes to the filing fees for Hart Scott Rodino Act filings.