Cleary Gottlieb counsel Cunzhen Huang and associates Huanbing Xu and Yiming Sun co-authored “China’s Review of Semiconductor Transactions,” which appeared
CMA Examines UK Labour Markets Amidst Heightened Regulatory Scrutiny
On 25 January 2024, the Microeconomics Unit[1] of the Competition and Markets Authority (CMA) published a report examining competition and market power in UK labour markets (the Report). The Report is the Unit’s first published work, covering developments in the labour markets over the last two decades. Over this period, labour markets have changed significantly through the rise of flexible working and the gig economy (defined as labour services contracted through digital platforms), changes in restrictive covenants (contract clauses that restrict what workers can do after they leave their current employer), and shifts in pay-setting policies. Each of these factors has the potential to impact employer market power.[2]
Antitrust Review Episode 24: In Conversation With Maria Jaspers
In the latest installment of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by Maria Jaspers, who heads
Inmarsat/Viasat Orbits Away From The Commission’s And CMA’s Competitive Concerns
On April 2, 2024, the European Commission published, in full, its May 2023 decision unconditionally approving the acquisition of Inmarsat by Viasat[1] (the “Transaction”), following an in-depth Phase II investigation. The UK Competition and Markets Authority (“CMA”) had also unconditionally cleared the acquisition on May 9, 2023.[2] The Transaction was approved in the context of a trend toward broader consolidation in an increasingly challenged European satellite operations market, with SES announcing its intention to acquire Intelsat just a week before the Commission published its Viasat decision.[3]
Third Time’s The Charm: CAT Overturns Own Hydrocortisone Decision in Landmark Judgment
On 8 March, the Competition Appeal Tribunal (the “CAT”) handed down a third judgment in two years in
CMA to scrutinise competition in the veterinary sector
On 12 March 2024, the UK Competition and Markets Authority (CMA) provisionally decided to refer the veterinary sector
The Paris Court of Appeal sharply reduces the fines imposed by the FCA on members of a cartel in the ham and cold meat sector
On March 7, 2024, the Paris Court of Appeal (the “Court”) partially overturned[1] a 2020 decision of the French Competition Authority (“FCA”)[2] sanctioning 12 companies for their participation in a cartel in the ham and cold meat sector (the “Decision”). While the Court confirmed the existence of cartel-related practices, it dropped some charges and reduced the parameters taken into account by the FCA to calculate the fine. As a result, the total fine amount was reduced from €93 million to €39 million.
Antitrust Review Episode 23: In Conversation With Saverio Valentino
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.
A Bite At The Apple: The Commission Imposes Its First-ever Antitrust Fine On Apple Ahead Of The Entry Into Force Of The Digital Markets Act
On March 4, 2024, the Commission fined Apple €1.8 billion—its first ever antitrust fine imposed on Apple and third largest ever—for abusing its dominant position on the market for the distribution of music streaming apps to iPhone and iPad users (“iOS users”) through its App Store (“Decision”).[1]
The French Competition Authority publishes its roadmap for 2024-2025
On February 27, 2024, the French Competition Authority (“FCA”) published its roadmap for 2024-2025 as every year,[1] outlining its enforcement priorities for the year ahead. The FCA emphasized the need to take action in the same key areas of interest as in 2023[2]: (i) the digital economy, (ii) sustainability and the ecological transition, and (iii) the protection of purchasing power.