On 10 July 2023, the UK Competition Appeal Tribunal (CAT) dismissed an appeal by Canadian software company Dye & Durham’s (D&D) against a decision of the Competition and Markets Authority (CMA) to reject a proposed “dual-track” remedy. The case arose out of the CMA’s investigation of D&D’s completed acquisition of TM Group (TMG), which resulted in the CMA requiring D&D to divest TMG to a suitable purchaser.
On July 4, 2023, the Commission conditionally approved, in Phase I, Advent’s acquisition of market research provider GfK through its subsidiary NielsenIQ, after Advent pulled and refiled the merger notification.[1] The approval is subject to the divestment of GfK’s global consumer panel services (“CPS”) business, excluding Russia.[2]
In the latest episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy interviews Sir Jonathan Faull.
Their conversation covers
Making markets work for consumers is a core mission for UK agencies with competition and consumer protection responsibilities. This task assumes heightened importance in the context of current cost-of-living pressures. In this post, we discuss recent regulatory interventions that have focused on these issues.
On July 5, 2023, the German Parliament (Bundestag) passed the Competition Enforcement Act, amending the German Act Against Restraints of Competition (“ARC”) for the 11th time (“11th Amendment”). This comes only two and a half years after the last significant amendment in 2021, which granted the Federal Cartel Office (“FCO”) unprecedented investigative powers.[1] The 11th Amendment once again equips the FCO with additional enforcement powers.
On 11 July 2023, the UK Government published its second Annual Report on the National Security and Investment Act 2021 (the “Act”).
The Annual Report begins with an introduction by Oliver Dowden MP, the Deputy Prime Minister, who is the formal decision-maker under the Act in his role as the Secretary of State in the Cabinet Office. This introduction seeks to reassure investors that the Act is a “light-touch, proportionate regime that offers companies and investors the certainty they need to do business, while crucially protecting the UK’s national security in an increasingly volatile world.”
The EU FSR filing forms have been adopted and the regime is now in effect. Businesses must prepare to notify
On July 13, 2023, the Court of Justice delivered its much anticipated judgment in Commission v. CK Telecoms,[1] setting aside the General Court’s landmark judgment that annulled the Commission’s 2016 prohibition of the proposed 4-to-3 merger between Telefónica Europe Plc (“O2”) and Hutchinson 3G UK Investments Limited (“Three”), the second and fourth largest mobile network operators in the UK, that would have created a new market leader with a combined share above 40%.[2]
On July 12, 2023, the Commission approved Broadcom’s proposed €55 billion acquisition of VMware after a Phase II review ruling out most of its initial concerns.[1] The Commission’s decision is subject to technology access and interoperability remedies.
On July 4, 2023, the Court of Justice delivered its judgment in Meta Platforms Inc. v. Bundeskartellamt,[1] following a request for a preliminary ruling from the Düsseldorf Higher Regional Court (“Düsseldorf Court”) on the validity of the German Federal Cartel Office (“FCO”) 2019 decision finding that Meta Platforms (“Meta”)[2] abused its dominant position by collecting and processing data without users giving their consent freely.[3] The Court of Justice confirmed that competition authorities can find breach of data protection rules under the General Data Protection Regulation (“GDPR”) where that finding is necessary to establish the existence of an abuse of dominance under Article 102 of the Treaty on the Functioning of the European Union (“TFEU”). The Court of Justice however emphasized that competition authorities are required to consult and cooperate with national supervisory authorities in charge of GDPR enforcement (“GDPR authorities”).