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)

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 Statement of Objections to Altice alleging it had breached the EUMR's standstill obligation by exercising control over PT Portugal before receiving clearance for the transaction (i.e. gun-jumping). These developments show the Commission is cracking down on violations of the EUMR rules and will not hesitate to issue heavy penalties on infringers. This comes against a backdrop of similar procedural toughness by merger control authorities worldwide. It is crucial for merging companies to understand and

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Authors

  • Herbert Smith Freehills (Brussels)
  • Herbert Smith Freehills (London)
  • Herbert Smith Freehills (Paris)

Quotation

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), 18 May 2017, e-Competitions Merger Remedies, Art. N° 93775

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