On September 24, 2024, the European Commission (EC) conditionally approved, under the Foreign Subsidies Regulation (FSR), the acquisition of PPF Telecom Group (PPF) by Emirates Telecommunications Group Company PJSC (e&).[1] The EC’s clearance is subject to commitments valid for 10 years, which may be extended by another 5 years. This is the EC’s first Phase II conditional clearance decision under the FSR, which started to apply on July 12, 2023.[2].
On October 2, 2024, the European Commission appointed Emanuele Tarantino as new Chief Competition Economist at DG COMP. Tarantino is expected to take office in a few weeks, coinciding with Teresa Ribera’s arrival as the new Commissioner for Competition.
On October 2, 2024, the General Court dismissed Crown’s and Silgan’s respective appeals[1] against a 2022 Commission decision imposing a total fine of €31.5 million for participating in a cartel concerning the sales of metal cans and closures in Germany between 2011 and 2014.[2] The judgments serve as a reminder of the General Court’s tendency to defer to the Commission’s cartel enforcement practice, including on the conditions for accepting case referrals from national competition authorities, particularly in cases that were initially settled by the applicants.
On October 1, 2024, amendments to the Statute of the Court of Justice of the European Union entered into effect, ushering in a significant reform to the European judiciary.[1] As a result of the reform, the jurisdiction to issue preliminary rulings has been partially transferred from the Court of Justice to the General Court for cases falling exclusively within six well-established legal areas, including VAT, excise duties, and tariffs. Conversely, the Court of Justice retains jurisdiction to issue preliminary rulings in competition law and other areas which routinely raise complex questions of principle and consistency. The reform is designed to reduce the caseload of the Court of Justice, thereby allowing it to “focus to a greater extent on its role as the supreme and constitutional court of the European Union.”[2]
On September 17, 2024, the President of the European Commission, Ursula von der Leyen, announced the structure of the new Commission and her nominees to serve as Commissioners for the upcoming 5-year term (2024-2029). Each of these nominees will be scrutinized and need to be confirmed by the EU Parliament in the coming weeks.
On September 14, 2024, China’s SAMR published streamlined notification and publicity forms for cases reviewed under its simplified merger review procedure (“Simple Cases”). The revised forms will take effect as of October 12, 2024.
In this episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by a panel featuring Jackie Holland, Cleary partner and former Senior Director of the UK Office of Fair Trading; Ricardo Zimbrón, former Director of Mergers at the Competition & Markets Authority and currently a partner at Cleary; Alexander Baker, CEO, Fingleton; and John Gray, Partner, FGS Global, to discuss the implications of the new Labour Government for competition enforcement and practice in the UK. Their conversation covers an array of topics, including the new government’s growth agenda, the role of politics in antitrust enforcement, merger control, consumer protection, digital regulation, and much more.
On September 13, 2024, the French Competition Authority (“FCA”) approved the acquisition of Kindred Group (“Kindred”) by La Française des Jeux (“FDJ”, the “Transaction”) in the gambling sector, subject to behavioural commitments, including brand separation, to address conglomerate concerns.[1]
In the latest instalment of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by the team of lawyers
On September 9, 2024, Mario Draghi, former President of the European Central Bank and former Italian Prime Minister, presented his report on the Future of European Competitiveness (the “Report”), with the objective to inform the work of the incoming Commission. Featured in President von der Leyen’s Political Guidelines issued in July,[2] and in several mission letters for the new Commissioners, the Report revived the debate concerning the competitiveness of EU companies in global markets.