The European Commission proposes measures on the review of minority stakes under the EU Merger Regulation

It is more than three and a half years since EU Competition Commissioner Joaquín Almunia first publically admitted that, at the European level, when a transaction involves the acquisition of a minority shareholding, there is “probably an enforcement gap” [1], and announced that he had instructed DG COMP to examine the matter, to see whether the problem was “significant enough” to warrant trying “to close this gap in EU merger control” [2]. In June 2013 the Commission released a Commission Staff Working Document entitled “Towards more effective EU merger control” [3], which launched a three-month consultation period. That gave rise to nearly seventy submissions from a wide variety of stakeholders [4]. There followed a White Paper with the same title on 9 July 2014 [5], and a second period of

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Anne MacGregor, Alec J. Burnside, The European Commission proposes measures on the review of minority stakes under the EU Merger Regulation, 9 July 2014, e-Competitions Bulletin July 2014, Art. N° 69383

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