DB/LSE - Assessing financial infrastructure markets: Network effects, service portfolios and viability of remedies* In a nutshell: The Commission prohibited the merger between the two largest European financial infrastructure groups, Deutsche Börse and London Stock Exchange, in March 2017. This (...)

1. Introduction Offering loyalty rebates is a common and effective competitive strategy that firms use to sell larger volumes to their customers. By granting fidelity discounts, producers lower the effective price their customers have to pay for incremental purchases. Loyalty rebates therefore (...)

The views expressed in this memo are those of the author’s, and do not reflect the opinions of other CRA experts, or CRA’s clients. A test-case for the effects-based approach In a long-awaited ruling, General Court judgment has confirmed the Commission’s 2009 Intel décision. The Commission’s (...)

Intel and the future of Article 102* A test-case for the effects-based approach In a long-awaited ruling, last week’s General Court judgment has confirmed the Commission’s 2009 Intel decision. The Commission’s decision had found the chip producer to infringe competition rules by granting (...)

Mergers and bargaining power: back to the future? Insights from the Universal/EMI merger* The decision to approve the acquisition of EMI’s recorded music rights by Universal has recently been published by the European Commission. Following a Phase II investigation, the acquisition was approved (...)