Frederic Depoortere

On April 20, 2022, the U.K. government announced amendments to the U.K. competition and consumer law regimes. Changes to merger control include: Expanded conditions for killer acquisitions, which will eliminate the need for a U.K. overlap in acquirer and target activities intended to cover (...)

The European Commission (Commission) is accepting public comment on its proposed revisions to European Union regulations and guidance on common competitor cooperation arrangements, which are due to expire on 31 December 2022. Cooperation agreements among existing or potential competitors (...)

On January 26, 2022, the EU General Court (the Court) annulled the European Commission’s (the Commission) decision that Intel had abused its dominant position regarding its x86 central processing unit (CPU) computer chips and the imposition of a €1.06 billion fine. The judgment demonstrates (...)

The UK’s Competition and Markets Authority (CMA) fined Facebook £50.5 million for breaching an order to hold separate its acquisition target, Giphy, pending the CMA’s review of the merger. Takeaways The U.K. merger control regime allows acquirers the flexibility to close prior to completion (...)

On September 22, 2021, the European General Court issued its judgment upholding the decision by the European Commission (Commission) to fine Altice for gun-jumping in the acquisition of Portugal Telecom (PT) in 2015. The General Court did grant Altice a limited 5% reduction of part of the (...)

On September 22, 2021, the European General Court issued its judgment upholding the decision by the European Commission (Commission) to fine Altice for gun jumping in the acquisition of Portugal Telecom (PT) in 2015. The General Court did grant Altice a limited 5% reduction of part of the (...)

The U.K. government is consulting on far-reaching reforms to U.K. competition and consumer laws, which would substantially expand the powers of the Competition and Markets Authority (CMA) and reduce procedural protections. Key proposals include: Merger control jurisdiction enlarged: The CMA (...)

1. Summary The European Union and the United Kingdom have each proposed modifications of their antitrust rules on distribution. The proposals diverge significantly on common distribution practices, creating legal challenges for distribution agreements caught by both sets of rules. Dual (...)

The European Commission (EC) has proposed legislation to curb M&A, public procurement and market conduct by foreign-subsidized companies that may distort the European Union’s internal market. New requirements include: Mandatory notification of acquisitions where the target’s EU turnover (...)

The new Article 22 EU Merger Regulation (EUMR) Guidance released by the European Commission (EC) enables the EC to review any acquisition, even those that do not qualify for notification under national (or EU) merger control rules. Summary The new guidance indicates that the EC will (...)

Takeaways More than 50 countries now have the discretion to conduct competition reviews of mergers below mandatory notification thresholds, and the European Commission, EU member states, the U.K. and others are using this authority more frequently. As a consequence, companies whose merger (...)

The U.K.’s Competition & Markets Authority (CMA) has released new merger assessment guidelines that confirm the U.K. regulator’s intensified approach to merger control. The guidelines largely codify the CMA’s recent output, which includes record-high numbers of prohibitions and deal (...)

Commissioned by the U.K. government to review its antitrust regime, Conservative Member of Parliament John Penrose’s “Power to the People” report proposes streamlined, modest changes rather than wholesale reform to the current regime. The report’s recommendations are outlined below: Merger (...)

The European Union (EU)-U.K. Trade and Cooperation Agreement (TCA) governing post-Brexit trade relations between the U.K. and the EU includes provisions regulating EU/U.K. antitrust enforcement and cooperation effective January 1, 2021: Anticompetitive practices and mergers. The TCA provides (...)

Following its review of a series of global deals in the digital markets space, the U.K.’s Competition & Markets Authority (the CMA) has launched a consultation on revised merger assessment guidelines (the draft guidelines) codifying its evolving practice in the digital sector and (...)

Sustainability issues are increasingly high on the list of competition policy priorities both at the European Union and member state levels. The European Commission (EC) and national competition authorities are actively rethinking how competition policy can better support the transition to (...)

The European Commission (EC) has proposed far-reaching new powers to investigate and sanction foreign subsidies that have allegedly distortive effects on the European Union’s (EU) internal market. The proposals include: (i) mandatory notification of acquisitions, including potentially (...)

The European Commission’s (EC) June 2020 white paper proposing wide-ranging controls over foreign-subsidized companies’ access to Europe’s internal market has received fresh impetus. In a report issued earlier this month, the European Union’s (EU) audit body faulted the EC for a hitherto (...)

As the COVID-19 pandemic spreads rapidly around the world, and countries take unprecedented measures to contain the spread of the disease, businesses are increasingly struggling with the economic impact of this crisis. While airlines, tour operators and event businesses have been among the (...)

The U.K. Competition and Markets Authority (CMA) has published “Guidance on the Functions of the CMA Under the Withdrawal Agreement” (Guidance), which sets out the regulator’s approach to merger and competition cases during the Brexit transition period that will run until at least through (...)

A recent decision by the Competition Appeal Tribunal (CAT), Tobii AB (publ) v. Competition and Markets Authority, confirms a deferential standard for the U.K. Competition and Markets Authority (CMA) in its merger prohibitions. The CMA is widely regarded as a thought leader among merger (...)

On April 4, 2019, the European Commission published a report prepared by three special advisers (the Advisers) appointed by EU Competition Commissioner Margrethe Vestager to explore how EU competition policy should evolve in the digital age. In the report, the three authors, all academics, (...)

The U.K. Financial Conduct Authority (FCA) has issued its first antitrust decision since obtaining competition law powers four years ago. The decision is a controversial one. It sets the FCA up as a strict enforcer on the type of information that competing investors can share when making (...)

On November 23, 2017, the Court of Justice of the European Union (Court of Justice) dealt a blow to the European Commission’s (Commission) power to close antitrust investigations with commitment decisions, with its ruling in Case C-547/16 Gasorba et al. v. Repsol. The Court of Justice ruled (...)

On 26 October 2017, the European Commission (the Commission) opened an in-depth investigation into UK statutory rules that exempt certain financing income earned by foreign subsidiaries of UK corporate taxpayers from UK tax. The Commission’s investigation will focus on whether the UK (...)

On September 6, 2017 ,the Court of Justice of the European Union (CJEU) quashed the 2014 judgment of the General Court (GC) that upheld a fine of €1.06 billion ($1.5 billion) on Intel Corporation Inc. (Intel) for abusing a dominant market position by implementing loyalty rebates based on (...)

On 10 May 2017, two years after launching its e-commerce sector inquiry on 6 May 2015, the European Commission published its final report (Final Report) on the inquiry. The inquiry was opened in the framework of the Commission’s broader Digital Single Market strategy, which was aimed at (...)

The German Federal Cartel Office (the FCO) has announced that it has initiated proceedings against Facebook for the company’s alleged abuse of its dominant position in a market for social networks. The FCO appears to be taking the position that, as a firm with a possibly dominant position, (...)

On October 6, 2015, the European Court of Justice (the ECJ) issued an important judgment clarifying the application of Article 102 to retroactive loyalty rebates (Post Danmark AS, Case C 23/14). The case, which had been referred to the ECJ by the Danish Commercial Court, concerned rebates for (...)

This article has been nominated for the 2016 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. China’s Anti-Monopoly Law requires businesses to notify transactions to the Ministry of Commerce (MOFCOM) for merger control review, so long as the parties (...)

On May 6, 2015, the European Commission (Commission) launched an antitrust sector inquiry into the e-commerce sector. This sector inquiry is part of the Commission’s broader Digital Single Market Strategy, which aims inter alia to improve access for consumers and businesses to online goods and (...)

Introduction A review of the Article 102 TFEU decisions at the member state level in the last years shows that the challenges of applying competition law rules in the digital economy or in relation to patent rights have not been reserved exclusively for the EU Commission. The EU Commission has (...)

This article has been nominated for the 2014 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On July 9, 2014, the European Commission published its proposal (White Paper) outlining the approach it intends to adopt with respect to the application of the (...)

In a long-awaited judgment issued on June 12, 2014, the General Court upheld in its entirety the European Commission’s May 13, 2009, decision imposing a fine of €1.06 billion ($1.5 billion) on Intel for abusing a dominant position in the market for x86 CPUs. In particular, the court upheld the (...)

In a judgment that may expand civil damage liability for cartel participants significantly (Case C-557/12, Kone AG and Others, judgment of June 5, 2014), the European Court of Justice (the ECJ) has ruled that a cartel’s members are liable for “umbrella damages,” which are caused by price (...)

EU Institutions Reach Compromise on EU Directive on Private Damage Actions* On March 18, 2014, representatives of the European Commission (the Commission), the European Parliament and the Council of the European Union reached a compromise in relation to key provisions of the proposed EU (...)

China Introduces Simplified Merger Review Provisions to Improve Process*Over the past several years, companies engaging in mergers, acquisitions and joint ventures have been subject to long and unpredictable competition reviews for transactions notified in China. Although China’s Anti-Monopoly (...)

On June 20, 2013, the European Commission (Commission) launched a public consultation on a number of significant proposed changes to the EU Merger Regulation (EUMR). The proposed amendments relate to (i) the possible review of non-controlling minority shareholdings under the EUMR; (ii) the EU (...)

Quality of Evidence in Complex Merger Cases* The Commission published the text of its most recent prohibition decision in Deutsche Boerse / NYSE Euronext. The Decision is lengthy and the Commission appears to have formulated a response to most arguments proffered by the parties. However, a (...)

This article has been nominated for the 2013 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. 1. Introduction Regulation 1/2003 obliges member states to apply Articles 101 and 102 to commercial practices which have an effect on interstate trade in (...)

Economic evidence and analysis at the early stages of EU merger control proceedings* “In appropriate cases, DG Competition may discuss in advance with the addressees or other affected parties the scope and the format of the Data Request. DG Competition may also explain the analysis that it (...)

How to deal with Chinese State-owned Enterprises under the EUMR?* On 13 September, the Commission published its decision of 31 March 2011 in China National Bluestar/Elkem. After DSM/Sinochem/JV (decision of 10 May but published in June), this was the second published decision which dealt in (...)

On December 14, 2010, the European Commission (the Commission) published a package of measures containing revised rules and guidelines for the assessment of cooperation agreements between competitors (horizontal cooperation agreements). In particular, these measures provide new and more (...)

Syngenta/Monsanto Sunflower Seeds – More Analysis, Please* The European Commission’s Phase II decision of 17 November 2010 concerning Syngenta’s acquisition of Monsanto’s sunflower seeds business raises a number of questions. First, it took the European authorities long to decide who (...)

On September 14, 2010, the Court of Justice (the Court) issued its judgment in Akzo v. Commission (Case C-550/07 P, hereinafter the Judgment) dismissing an appeal brought by Akzo Nobel Chemicals Ltd. (Akzo) against a judgment of the Court of First instance (now the General Court) of September (...)

Odile Jacob: the rehabilitation of the parking arrangement* More than six years after the case was launched, the General Court rendered its judgment in Case T-279/04, Editions Odile Jacob Sas v. Commission, relating to the appeal against a 2004 decision of the European Commission approving (...)

On September 9, 2010, the General Court of the EU (the Court) issued its judgment in Tomra vs. Commission (Case T-155/06), dismissing an appeal brought by Tomra against a European Commission decision imposing a €24 million fine for abuse of its dominant position in Germany, Austria, Sweden, (...)

A GUPPI Revolution in the EU?* The new U.S. Horizontal Merger Guidelines, issued in August 2010, introduce the so-called GUPPI test, the Gross Upward Pricing Pressure Index. According to the U.S. Guidelines, “[a]dverse unilateral price effects can arise when the merger gives the merged (...)

The power of pre-existing agreements* In two recent decisions, the Commission considered the impact of cooperation agreements that the notifying parties had entered into before the notified transaction and came to two different conclusions. In Iberia/British Airways (decision of 14 July (...)

The Aer Lingus Judgment – When non-implementation is implementation, or not* On 6 July 2010, the General Court rejected Ryanair’s appeal against the Commission’s 2007 prohibition of its hostile take-over of rival Irish airline Aer Lingus. On the same day, the Court also issued a much shorter (...)

On June 9, 2010, the EU’s General Court (Court) issued its judgment on an appeal by Editions Odile Jacob (EOJ) against a decision by the European Commission (the Commission) refusing to disclose certain documents relating to the Commission’s review under the EC Merger Regulation of the (...)

As the credit and capital markets continue to revive, companies around the world considering a return to greater mergers and acquisitions activity may be right to wonder whether recent antitrust law developments should deter those considerations. Notwithstanding the attention the various new (...)

On April 20, 2010, the European Commission (the Commission) adopted its new, long-awaited Vertical Block Exemption Regulation (the VBER) and accompanying guidelines applicable to distribution agreements in the EU. The VBER, which will enter into force on June 1, 2010, replaces Regulation (...)

T-Mobile/Orange and Cisco/Tandberg: Commission accepts complex Phase I remedies* When the Commission’s Remedies Notice was published in 2008, many commentators thought the Notice’s requirements for parties to a concentration to offer an acceptable remedy were too demanding. The concern was (...)

T-Mobile/Orange and Cisco/Tandberg: Commission accepts complex Phase I remedies* When the Commission’s Remedies Notice was published in 2008, many commentators thought the Notice’s requirements for parties to a concentration to offer an acceptable remedy were too demanding. The concern was (...)

Microsoft/Yahoo! – the concept of a concentration* The Commission’s recent decision approving Microsoft’s acquisition of Yahoo!’s Search Business (including internet search and search advertising) contains an interesting application of the definition of a concentration under the Merger (...)