The UK Competition Authority imposes its largest fine for a single breach of an interim enforcement order in a merger (Paypal / iZettle)

On 24 September 2019 the UK Competition and Markets Authority (CMA) imposed its largest ever fine for a single breach of an interim enforcement order (IEO) on Paypal, in the context of its acquisition of iZettle. IEOs are now routinely imposed in almost all completed mergers investigated by the CMA (and, occasionally, in anticipated mergers), preventing any further integration of the merging businesses pending completion of the CMA's investigation. The rationale behind such orders is to avoid any action being taken which might prejudice the CMA's investigation, or affect its ability to impose effective remedies. This record fine is the latest in a series of recent fines which have underscored the CMA's commitment to enforcement of its procedural merger control rules, in line with the

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Authors

  • Herbert Smith Freehills (London)
  • Herbert Smith Freehills (London)

Quotation

Veronica Roberts, Ruth Allen, The UK Competition Authority imposes its largest fine for a single breach of an interim enforcement order in a merger (Paypal / iZettle), 24 September 2019, e-Competitions September 2019, Art. N° 93516

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