On January 2, 2019, the FCA authorized the acquisition by the Vivendi Group of the Editis Group, which owns 13 literary publishing houses operating the brands Fleuve, Julliard, Le Cherche Midi, Plon, Robert Laffont, Bordas and Nathan, among others.[1]
Topics
2018 Review
By Cleary Gottlieb on
CMA Activity
As in 2017, the CMA leadership devoted much of 2018 to preparing for Brexit – publishing draft regulations, revising guidance, and increasing the CMA’s workforce.
Commission Continues to Target Aggressive Tax Arrangements for Multinationals
By Cleary Gottlieb on
The Commission continues its policy of targeting aggressive tax arrangements for multinationals (Apple[1]—Irish tax benefits case; Engie[2] and McDonald’s[3]—Luxembourg tax benefits cases) as can be seen from the opening of a state aid investigation into a tax ruling granted by the Netherlands to Nike.
2018 Year-End Review: Record Amount of Competition Fines, Cartels Fines on the Decline, Increased Practice of Pull-and-Refile in Mergers
By Cleary Gottlieb on
The Commission issued fines totaling €6.5 billion in 2018, which is a new record and almost double the amount of competition fines in 2017.
The Council of State Reduces the ICA’s Fine on a Cement Manufacturer
By Cleary Gottlieb on
On December 31, 2018, the Council of State upheld the ICA’s infringement decision in the Cement cartel case,[1] but…
2018 Year-end Review: Record Amount of Competition Fines, Cartels Fines on the Decline, Increased Practice of Pull-and-Refile in Mergers
By Cleary Gottlieb on
The Commission issued fines totaling €6.5 billion in 2018, which is a new record and almost double the amount of competition fines in 2017.
Cash Paris Tax Refund/Global Blue/Planet Payment
By Cleary Gottlieb on
On December 28, 2018, the FCA authorized, subject to commitments, the creation of the Cash Paris Tax Refund joint-venture by Global Blue and Planet Payment.[1]
The French Competition Authority Issues a Notice Concerning Settlement Proceedings
By Cleary Gottlieb on
Three years after the introduction of a settlement procedure in its legal arsenal, the FCA has issued guidelines on the conduct of settlement proceedings (the “Settlement Notice”). The Settlement Notice aims at clarifying the framework under which companies may be granted fine reductions in the context of antitrust investigations. However, several questions are still pending, including the determination of the final amount of the fine by the FCA’s Collège and the impact of settlement proceedings on follow-on damages claims.
The Italian Competition Authority Issues a Record- Breaking Fine for Car Sales Financing Cartels
By Cleary Gottlieb on
On December 20, 2018, the ICA adopted its final decision in the car financing case (“Decision”).[1] The ICA, which had initiated its investigation following a leniency application, found certain captive banks of automotive groups operating in Italy liable for a single, complex and continuous infringement that allegedly took place from 2003 to 2017. The ICA issued a record-breaking fine against the investigated companies of approximately €670 million in total.
The ICA Focuses on the Liberalization of Electricity Markets in Italy: The Enel Case
By Cleary Gottlieb on
On December 20, 2018, the Italian Competition Authority (“ICA”) fined Enel, a multinational energy company active, among other things, in the distribution and sale of electricity in Italy, over €93 million for abusing its dominant position on certain local markets for the retail supply of electricity.[1] On the same day, the ICA issued two decisions in parallel cases concerning similar allegations against two other companies.[2]