Concerted practices, greyhounds, swans and alcoholmeters* Adam Smith wrote in the Wealth of Nations that “two greyhounds, in running down the same hare, have sometimes the appearance of acting in some sort of concert. Each turns her towards his companion, or endeavours to intercept her when his companion turns her towards himself. This, however, is not the effect of any contract, but of the accidental concurrence of their passions in the same object at that particular time”. With this example the great economist taught us that oftentimes appearances are misleading and it would be foolish to attempt to find a concurrence of wills
The EU Court of Justice clarifies the notion of concerted practice and holds that a single meeting amongst competitors where they exchanged sensitive information can be caught by EU antitrust rules (T-Mobile Netherlands)
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