Kyriakos Fountoukakos

Herbert Smith Freehills (Brussels)
Lawyer (Partner)

Kyriakos is a partner in Herbert Smith Freehill’s EU Competition, Regulation and Trade group based in Brussels. He is a competition law specialist and deals with all aspects of EU and UK competition law including merger control, cartels, antitrust investigations and advice, and competition litigation before the EU courts. Kyriakos has advised clients in a broad range of industries including TMT, energy and mining, financial services, pharmaceuticals, transport and consumer goods. Kyriakos works closely with the Herbert Smith Freehills network to provide advice on multi-jurisdictional transactions and investigations. Kyriakos was formerly a European Commission official at DG Competition’s Merger Task Force and Referendaire (Legal Secretary) at the Cabinet of the then President of the EC Court of First Instance, Mr Bo Vesterdorf. Kyriakos is an officer of the IBA’s antitrust committee. He is active in speaking and writing about competition law and is co-editor of the mergers chapter of Jones & Van der Woude’s EU Competition Law Handbook. Kyriakos has studied at the University of Athens (LLB), King’s College London (LLM), the University of Cambridge (MPhil in European studies) and Columbia Law School, New York (LLM). He is qualified as a Greek lawyer and as a solicitor in England and Wales. Kyriakos is fluent in English, Greek and French.

Distinctions

Linked authors

Novartis (Basel)
Herbert Smith Freehills (Paris)
Herbert Smith Freehills (London)
Herbert Smith Freehills (London)
Herbert Smith Freehills (Madrid)
Herbert Smith Freehills (Paris)
RBB Economics (Brussels)
Herbert Smith Freehills (London)

Videos

Kyriakos Fountoukakos (Herbert Smith Freehills)
Kyriakos Fountoukakos 16 January 2020 Brussels

Articles

37876 Bulletin

Kyriakos Fountoukakos, Dafni Katrana, Ruth Allen The EU Court of Justice clarifies the criteria for the "pay-for-delay" agreements in the pharmaceutical sector (Generics - UK)

58

On 30 January 2020 the European Court of Justice (“ECJ”) clarified for the first time the criteria governing whether so-called “pay-for-delay” agreements entered into between originator and generic pharmaceutical companies fall foul of EU competition law rules. Such agreements are a form of patent (...)

Kyriakos Fountoukakos, Stephen Wisking, Kristien Geeurickx The UK Government provides a withdrawal agreement for the Competition Authority’s merger control during the Brexit transition period and after

23

On 31 January 2020, at 11pm GMT, the UK ceased to be a Member State of the EU and the transition period provided for in Article 126 of the Withdrawal Agreement started to run. This briefing looks at the provisions in the Withdrawal Agreement that are relevant for merger control, both during the (...)

Stephen Wisking, Susan Black, Kyriakos Fountoukakos, Kristien Geeurickx The UK Competition Authority disqualifies three former directors of companies involved in a bid rigging cartel in the design, construction and fit-out services market (Robb Simms-Davies / Trevor Hall / Oliver James Hammond)

7

On 10th May 2019 the CMA secured the disqualification of three former directors of companies involved in a bid rigging cartel in the design, construction and fit-out services sector. The three directors have given legally binding disqualification undertakings under which they will be banned (...)

Kyriakos Fountoukakos, Kristien Geeurickx, Stephen Wisking The EU Court of Justice holds that the principles applied in order to determine the relevant entities for liability for fines should also be applied to determine the relevant entities liable for damages under private damages claims (Vantaan kaupunki / Skanska)

8

In a preliminary ruling request made by the Finnish Supreme Court on the question of the relevant entities liable for damages, the Court of Justice of the EU (CJEU) held that principles applied in order to determine the relevant entities for liability for fines under Articles 101 and 102 TFEU (...)

Stephen Wisking, Veronica Roberts, Kyriakos Fountoukakos, Kristien Geeurickx The UK Competition Appeal Tribunal upholds the Competition Authority’s first infringement decision for breach of an interim order in a merger investigation (Electro Rent)

6

On 11 February 2019 the Competition Appeal Tribunal (CAT) upheld the CMA’s first infringement decision for breach of an interim order imposed on a completed merger under investigation. Electro Rent had served a break notice on the lease of its UK premises without first seeking the CMA’s consent (...)

Stephen Wisking, Kristien Geeurickx, Kyriakos Fountoukakos The EU General Court confirms that a bank investor was jointly and severally liable for the conduct of one of the cartelists (Goldman Sachs)

11

The General Court’s ruling in Goldman Sachs’ appeal in the power cables cartel confirms that the bank was jointly and severally liable for the conduct of Prysmian, one of the cartelists, because of the nature of its investment in the company. The General Court confirmed that the Commission was (...)

Stephen Wisking, Kyriakos Fountoukakos, Kristien Geeurickx The EU Court of Justice provides guidance on the standstill obligation which prevents parties implementing their transaction before the EU Commission issues a clearance decision (Ernst & Young)

9

For the first time since the EU Merger Regulation (EUMR) came into force the Court of Justice of the EU (CJEU) has provided guidance on the scope the standstill obligation (Article 7(1) EUMR) which prevents parties implementing their transaction before the EU Commission issues a clearance (...)

Kyriakos Fountoukakos, André Pretorius The EU Court of Justice holds that a restriction imposed on an authorised retailer not to sell the goods through online third-party platforms does not constitute an infringement (Coty)

7

In its hotly anticipated ruling in the Coty case, the Court of Justice of the EU (CJEU) has held today that, in the context of a selective distribution system, a restriction imposed on an authorised retailer not to sell the goods through online third-party platforms does not infringe Article (...)

Kyriakos Fountoukakos, André Pretorius, Sergio Sorinas The EU Commission sends a statement of objections alleging that multinational telecommunications company breached the EU Merger regulation by implementing its acquisition before notification or approval by the Commission (Altice / PT Portugal)

10

On 18 May 2017, the European Commission imposed a record fine of €110 million on Facebook for providing incorrect/misleading information to the Commission during its review of Facebook’s acquisition of WhatsApp under the EU merger regulation (EUMR). On the same day, the Commission issued a (...)

Kyriakos Fountoukakos, Sergio Sorinas, André Pretorius The EU Commission fines an undertaking €110 million for providing misleading information to the Commission during its review of the acquisition (Facebook / WhatsApp)

8

On 18 May 2017, the European Commission imposed a record fine of €110 million on Facebook for providing incorrect/misleading information to the Commission during its review of Facebook’s acquisition of WhatsApp under the EU merger regulation (EUMR). On the same day, the Commission issued a (...)

André Pretorius, Susan Black, Kyriakos Fountoukakos The EU Commission publishes its final report in the e-commerce sector inquiry as part of a wider digital market strategy which aims to achieve better access for consumers and business to online goods and services

14

On 10 May 2017 the EU Commission published its final report in the e-commerce sector inquiry launched in May 2015 as part of a wider Digital Market Strategy which aims to achieve better access for consumers and businesses to online goods and services across the EU. The aim of the sector inquiry (...)

Susan Black, André Pretorius, Kyriakos Fountoukakos, Sergio Sorinas The EU Commission fines three companies for participating in a cartel in the euro interest rate derivatives sector (Crédit Agricole / HSBC / JP Morgan Chase)

9

On 9 April 2019, the European Commission published the full text of its decision to fine Crédit Agricole, HSBC and JPMorgan Chase for participating in a cartel in the euro interest rate derivatives ("EIRD") sector. While four of the seven participating banks settled the case with the Commission (...)

Kyriakos Fountoukakos, André Pretorius, Sergio Sorinas, Kristien Geeurickx The EU Advocate General Wahl opts for a more effects-based approach on rebates and proposes annulment of the EU General Court’s judgement (Intel)

10

In Intel’s appeal against the General Court’s judgement of June 2014 (which upheld the Commission’s decision that Intel abused its dominant position by virtue of operating exclusivity rebate schemes – see here for our e-bulletin on the judgment), Advocate General Wahl recommends that the Court of (...)

Kyriakos Fountoukakos, André Pretorius The EU Commission publishes a preliminary report in its e-commerce sector inquiry as a response to the rapid growth in online sales activity

8

Yesterday the Commission published the much anticipated preliminary report in its ecommerce sector inquiry. The report was initiated in response to rapid growth in online sales activity over recent years and signals renewed commitment on the part of the EU in enforcing the competition rules in (...)

Sebastien Moore, Kyriakos Fountoukakos, Mark Jephcott, Dafni Katrana, Peter Rowland The EU General Court hands down a judgement concerning an appeal brought by an undertaking and a number of generic companies against a EU Commission decision which found that the parties had breached Article 101 TFEU by agreeing to delay the market entry of a generic drug (Lundbeck)

13

On 8 September 2016 the General Court (GC) handed down its judgments in relation to the appeals brought by Lundbeck and a number of generic companies (Sun Pharma (Ranbaxy), Arrow, Generics UK, Merck and Xellia/Alpharma) against a European Commission (Commission) decision finding that the (...)

André Pretorius, Henar González Durántez, Kristien Geeurickx, Kyriakos Fountoukakos, Michael Dietrich, Sergio Sorinas The EU Court of Justice rules on issues concerning retroactive rebates and the procedures through which these rebates can be characterized as abusive (Post Danmark II)

214

Introduction On 6 October 2015, the European Court of Justice (the Court) issued its preliminary ruling in Post Danmark A/S v Konkurrencerådet (Competition Council), which concerns the antitrust treatment of a retroactive rebate scheme in the market for the distribution of bulk mail. The case (...)

Kyriakos Fountoukakos The UK Competition Authority orders licensing remedy to meet concerns over horizontal unilateral effects resulting from a merger in the personal lubricants market (Reckitt Benckiser / Johnson & Johnson)

380

Introduction and background On 4 November 2015, the UK Competition and Markets Authority ("CMA") accepted final undertakings from Reckitt Benckiser Group plc ("RB") and Johnson & Johnson ("J&J") in relation to RB’s proposed acquisition from J&J of the K-Y brand of personal lubricant (...)

Kristien Geeurickx, Kyriakos Fountoukakos The EU Court of Justice considers that the bilateral exchange of pre-pricing informations to a concerted practice with the object of restricting competition is an anticompetitive practice (Dole)

305

In its ruling of 19 March 2015 (Case C-286/13P) relating to the banana cartel, the Court of Justice of the EU (CJEU) dismissed the appeal by banana importer Dole against the General Court’s judgment in its entirety. The CJEU agreed with the Commission’s findings, supported by the General Court, (...)

Kyriakos Fountoukakos The UK Court of Appeal upholds the Competition Commission’s prohibition of a merger in the metal packaging coatings for beer and beverages market (Akzo / Competition Commission)

120

Background to the Court of Appeal judgment Akzo Nobel N.V. ("Akzo") is a company incorporated in the Netherlands. Its subsidiary, Akzo Coatings International BV ("ANCI"), was seeking to exercise its option to acquire 51% (and as a result control) of the shareholding in Metlac Holding S.r.l. (...)

Kyriakos Fountoukakos, Molly Herron The EU General Court upholds fine imposed on energy corporation for failing to notify a transaction highlighting the importance of compliance with EU merger control filing requirements (Electrabel)

690

1. Introduction On 12 December 2012 the EU General Court dismissed Electrabel’s appeal against the €20 million fine the European Commission had imposed on it for failing to notify a transaction - the acquisition of a minority shareholding - to the Commission under the EU Merger Regulation (...)

Kristien Geeurickx, Kyriakos Fountoukakos The EU Court of Justice dismisses pharmaceutical company’s appeal against the Commission and EU General Courts’ findings that it abused its dominant position by misusing patent systems and pharmaceutical marketing procedures to exclude generic competitors from the market and restrict parallel imports (AstraZeneca)

1292

1. Introduction The Court of Justice of the EU (ECJ) has dismissed AstraZeneca’s appeal against the Commission’s and General Court’s findings that the company abused its dominant position under Article 102 TFEU by misusing the patent system and pharmaceutical marketing procedures in order to (...)

Kyriakos Fountoukakos The UK OFT accepts commitments offered by a party to a completed acquisition in lieu of referring the case to the Competition Commission (Vue Entertainment International / Apollo Cinemas)

359

In May 2012 Vue Entertainment International Limited ("Vue") acquired sole control of Apollo Cinemas Limited ("Apollo"). In its decision of 24 August 2012 published in October 2012, the Office of Fair Trading ("OFT") stated that the acquisition had resulted or may be expected to result in a (...)

Kyriakos Fountoukakos The UK Competition Appeal Tribunal rules on Competition Commission’s decision to continue investigation on a merger in the aviation sector (Ryanair / Aer Lingus)

141

The acquisition of Ryanair’s minority stake in Aer Lingus is currently under investigation by the Competition Commission (CC) under the merger control regime of the Enterprise Act 2002, despite a series of jurisdictional challenges and a potentially conflicting transaction (a renewed bid by (...)

Kyriakos Fountoukakos The UK Competition Commission finds that the joint venture between two of the largest suppliers of construction materials in the UK would give rise to substantial lessening of competition based on coordinated effects (Anglo American / Lafarge)

415

On 1 May 2012 the Competition Commission (CC) published its decision on the anticipated joint venture between Anglo American PLC and Lafarge SA in the market for construction materials. The CC concluded that the proposed joint venture would give rise to a substantial lessening of competition in (...)

Kyriakos Fountoukakos The UK Competition Authority gives a provisional clearance to the anticipated joint venture between in-flight catering services companies (Alpha Flight / LSG Lufthansa Service)

517

Introduction On 10 October 2011, the UK Office of Fair Trading (the «OFT«) referred the anticipated 50/50 joint venture between in-flight catering services companies Alpha Flight Group Limited («Alpha«) and LSG Lufthansa Service Holding AG («LSG«) to the Competition Commission (the «CC«), for an (...)

Kyriakos Fountoukakos The UK OFT refers the anticipated joint venture between two in-flight caterers to the Competition Commission for in-depth investigation (Alpha Flight Group / Lufthansa Service)

267

Introduction On 10 October 2011, the UK Office of Fair Trading (the "OFT") referred the anticipated 50/50 joint venture between in-flight catering services companies Alpha Flight Group Limited ("Alpha") and LSG Lufthansa Service Holding AG ("LSG") to the Competition Commission (the "CC"), for (...)

Kyriakos Fountoukakos The UK Competition Appeal Tribunal upholds the OFT’s decision that it is "in time" to investigate the acquisition of a minority shareholding in a merger case concerning the air transport sector (Ryanair / Aer Lingus)

1074

All views expressed are strictly personal views of the author. The present case note does not constitute legal advice and should not be relied on as such. The author would like to thank Natalia Sivakumaran, associate at Herbert Smith LLP in London, for her assistance with the preparation of (...)

Kyriakos Fountoukakos The UK Competition Appeal Tribunal orders the Competition Commission to reconsider its clearance of a merger on the basis of absence of vertical concerns (Ticketmaster / Live Nation)

1728

Following a reference of the case to it from the OFT, on 22 December 2009, the UK Competition Commission ("CC") announced that it had decided to clear unconditionally the proposed merger of Ticketmaster Entertainment Inc. ("Ticketmaster"), a ticketing agent, and Live Nation Inc. ("Live (...)

Kyriakos Fountoukakos The UK’s Office of fair trading clears merger in newspaper and magazine distribution sector by reference to forward-looking counterfactual (Completed acquisition by Smiths News Trading Limited of Certain Assets of Surridge Dawson Limited)

2286

On 28 August 2009, the UK’s Office of Fair Trading ("OFT") announced that it had unconditionally cleared the acquisition of assets by Smiths News from Surridge Dawson (the "Transaction"). Both parties were active in the supply of wholesale newspaper and magazine distribution in the UK. The (...)

Kyriakos Fountoukakos The UK OFT accepts undertakings in newspaper merger, clarifying that its de minimis guidance is not a "get out of jail free" card for small mergers (Dunfermline press / Berkshire regional newspapers)

4585

On 4 February 2008, the Office of Fair Trading ("OFT") announced that it had suspended its duty to refer Dunfermline Press Limited‘s ("DPL ") acquisition of the Berkshire Regional Newspapers ("BRN") portfolio of 8 local newspaper titles from Trinity Mirror plc to the Competition Commission (...)

Kyriakos Fountoukakos The UK’s OFT unconditionally clears a merger in the airline sector concluding that evidence of new market entry can mitigate high market shares (easyJet / GB Airways)

3342

On 18 January 2008, the UK’s Office of Fair Trading (“OFT”) announced that it had cleared unconditionally the purchase of GB Airways Limited (“GB Airways”) by easyJet Airline Company Limited (“easyJet”). The OFT focused on relatively narrowly defined markets, considering scheduled flights on (...)

2213 Review

Camille Puech-Baron, Kyriakos Fountoukakos China/EU: The gradual evolution of the EU Commission’s merger control decisional practice towards SOEs amidst an increasingly protectionist world

727

This article updates the article published by the authors in 2012 on the treatment of Chinese SOEs involved in acquisitions of European companies under the EU Merger Regulation. In this updated version, the authors discuss the lessons learnt in this regard from the European Commission decision (...)

Camille Puech-Baron, Kyriakos Fountoukakos The EU merger regulation and transactions involving states or state-owned enterprises: Applying rules designed for the EU to the People’s Republic of China

1123

In 2011, the European Commission cleared five concentrations involving Chinese State-owned companies under the EU Merger Regulation using rules that were primarily designed to apply to European State-owned companies and entities. The sensitivity of the issue of Chinese takeovers of European (...)

Books

Price 230€00 Richard Whish QC (Hon) Liber Amicorum

This Liber Amicorum highlights the global reach of Professor Whish’s influence. Enforcers, academics and practitioners from around the world pay tribute to the mastery of competition law that (...)

Date 11 March 2020
Author(s): Nicolas Charbit, Sonia Ahmad (Editors)
Price 230€00
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