Clearance phase I (merger)

Institution Definition

After notification of the merger the Commission has 25 working days to analyse the deal during the phase I investigation. More than 90% of all cases are resolved in Phase I, generally without remedies. A phase I review may involve the following: (i) Requests for information from the merging companies or third parties; (ii) Questionnaires to competitors or customers seeking their views on the merger, as well as other contacts with market participants, aimed at clarifying the conditions for competition in a given market or the role of the merged companies in that market. The Commission keeps the merging companies informed about the progress if its analysis. Towards the end of phase I, a "state-of-play meeting" is typically held, where the Commission informs them about the results of the phase I investigation. If there are competition concerns, companies can offer remedies, which extends the phase I deadline by 10 working days. There are two main conclusions of a phase I investigation: The merger is cleared, either unconditionally or subject to accepted remedies; or the merger still raises competition concerns and the Commission opens a phase II investigation. © European Commission

See also Clearance phase II (merger)

Case Comments

Belgian Competition Authority The Belgian Competition Authority approves the acquisition of two retailers of new and used BMW brand vehicles by a car distributor (Peter Daeninck / Daeninck goodwill / HEAX)

Belgian Competition Authority approves the acquisition of Peter Daeninck NV and Daeninck NV’s goodwill by HEAX NV* On 21 September 2023, the Belgian Competition Authority (BCA) approved the acquisition of Peter Daeninck NV and Daeninck NV’s goodwill by HEAX NV. The concentration was (...)

Belgian Competition Authority The Belgian Competition Authority approves the joint acquisition of a company that rents out commercial spaces to drone developer by a national airport and investment firm (Brussels Airport / Limburgse / Droneport)

Belgian Competition Authority approves joint control by Brussels Airport Ventures and Limburgse Reconversie Maatschappij over Droneport* On 18 September 2023, the Belgian Competition Authority (BCA) approved the joint control by Brussels Airport Ventures and Limburgse Reconversie (...)

Sabrina Frank Mergers & Media: An overview of EU and national case law

This year, a decision of the German Competition Authority made headlines, titled “Competition concerns about the acquisition of a daily newspaper in the Zollernalbkreis district”. The remarkable thing about this case is that it was scrutinized at all. The Zollernalbkreis is tiny and consists of a handful of small towns and villages. The daily newspaper in question has a circulation of less than 17,000 printed copies with a monthly subscription price of approx. 45 EUR. But: its acquisition was subject to a merger filing and raised competition concerns to a degree that the German Competition Authority blocked one potential buyer. The case is somewhat indicative for merger cases in the media sector: the significance of media companies often is considered to exceed their turnover and economic weight; they are being reviewed with a particular scrutiny and they attract a considerable amount of public attention. The patterns that may be deducted from the cases in this Special Issue, show a worrying result: The understandable wish for control over competition in media businesses might lead to suffocating the economic development of the ‘Fourth Estate’. These patterns are: Mergers in the media sector are subject to special scrutiny (see 1.); markets continue to be (mainly) defined narrowly (see 2.); and regulation is applied rigorously despite the decisive influence of digitalization and the role of Big Tech players on the continuance of media markets (see 3.).

New Zealand Competition Authority The New Zealand Competition Authority publishes a Statement of Preliminary Issues relating to an application from a company active in the tourism sector seeking clearance to acquire a vessel and associated assets from a cruise operator (Real Journeys / Southern Discoveries)

The Commerce Commission has published a statement of preliminary issues relating to an application from Real Journeys Limited (trading as Real NZ) seeking clearance for itself (or any interconnected body-corporate) to acquire the vessel, the Spirit of Queenstown, and associated assets from (...)

Indian Competition Authority The Indian Competition Authority approves the acquisition of a company that provides global technology consulting and business solutions by an American limited partnership (Orogen-Brunson / Brillio India Technologies)

Commission approves the acquisition of certain shareholding in Brillio Holdings, Inc. by Orogen-Brunson L.P. * The proposed combination relates to acquisition of certain shareholding in Brillio Holdings, Inc. by Orogen-Brunson L.P. Acquirer Orogen-Brunson L.P. is a limited partnership (...)

Romanian Competition Authority The Romanian Competition Authority approves the proposed acquisition of a local festival organiser by an investment company (Ioan-Bogdan Buta / Mozaik Investment)

COMPETITION COUNCIL APPROVED THE TAKEOVER OF UNTOLD UNIVERSE BY IOAN-BOGDAN BUTA AND MOZAIK INVESTMENT* The Competition Council approved the transaction by which Ioan-Bogdan Buta and Mozaik Investment GmbH intend to take over Untold Universe S.A. and the companies it controls. Mozaik is an (...)

Indian Competition Authority The Indian Competition Authority greenlights the acquisition of a stake in a provider of IT services to the aviation and travel industry by a British-based investment firm (IBS Software / Pelipper)

Commission approves acquisition of certain stake of IBS Software Pte Limited by Pelipper HoldCo SARL* The proposed combination relates the acquisition of approximately 30% of the issued share capital on a fully diluted basis of IBS Software Pte Limited (Target) from Techware Singapore (...)

New Zealand Competition Authority The New Zealand Competition Authority receives an application for a proposed acquisition in the jet boating services market (Ngāi Tahu Tourism / KJet / Time Tripper)

Ngāi Tahu Tourism seeks clearance to acquire KJet and Time Tripper* The Commerce Commission has received an application from Ngāi Tahu Tourism Limited seeking clearance for itself (or a wholly-owned subsidiary) to acquire the tourism jet boating business trading as “KJet” and related assets (...)

Articles

Christophe Carugati Overview of privacy in cases relevant to competition law

Privacy in competition cases is becoming common due to the importance of data. The literature thus focuses on the role of data and privacy in antitrust and merger control laws. Yet, the literature does not offer an empirical overview of the cases to understand how countries investigate the (...)

Christopher Kerse, John Cook EC Merger Control (ed.5)

This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (...)

Walid Chaiehloudj, Benoît Cœuré, Christophe Venture, Aurélie Zoude-Le-Berre, Nicolas Genty, Antoine Callot, Matthieu Pujuguet, Déborah Higuero, Virginie Elissalde Competition law enforcement according to the three French competition authorities in French overseas territories (Nouméa, 27 juillet 2022)

Abstract On 27 July 2022 in Noumea, the New Caledonian Competition Authority organized an anniversary conference to celebrate the fourth year of its establishment. The aim of the conference was to compare the views of the three French competition authorities (the French Competition (...)

Aurelien Portuese, Anne C. Witt Algorithmic antitrust (London, 6 March 2020)

On the 6th of March 2020, few days before the Covid-19 lockdown, LL.M. Programme Director Dr Aurelien Portuese has convened a conference on “Algorithmic antitrust” in the Waldegrave Drawing Rooms of St Mary’s University London, in Twickenham. This conference was an annual conference organised (...)

Events

Iskandar Ismail, Reiko Aoki, Philip Monaghan, Laura Liu, Krystal Uy Sia Merger control in Asia - Pacific- Hong Kong, Japan, Malaysia, Philippines, China… (Antitrust in Asia #2)

2nd webinar of the "Antitrust in Asia: One Size Fits All?” Conference organised by Concurrences, in partnership with Baker McKenzie and O’Melveny. The second panel "Merger Control In Asia - Pacific: Hong Kong, Japan, Malaysia, Philippines, China…" with Reiko Aoki (Commissioner, Japan Fair Trade Commission), Iskandar Ismail (Chief Executive Officer, Malaysia Competition Commission),Laura Liu (Partner, Baker McKenzie), Philip Monaghan (Partner, O’Melveny Myers) and Krystal Uy Sia (Director for Mergers and Acquisitions Office, Philippine Competition Commission).

Björn Vroomen, Sorcha O’Carroll, Andy Parkinson, David Reader, Caroline Hobson, Étienne Chantrel, Deni Mantzari, Marc Israel, Rameet Sangha, Marie-Claire Strawbridge, Ioannis Lianos, Colin Raftery, Timothy Lamb, Matthew Levitt, Joshua White, Ioannis Kokkoris, Antoine Chapsal, Catriona Hatton, James Webber, Nicholas Levy International Mergers Conference

The “3rd International Mergers” organised by Concurrences at University College London, in partnership with Analysis Group, Baker Botts, Cleary Gottlieb, Cooley, Compass Lexecon, Meta, Morrison & Foerster, Shearman & Sterling and White & Case.

Paul Csiszar, Stacy Frazier, Kyriakos Fountoukakos, Robert Willig, Josh Kaul, Stephen Weissman Antitrust in Life Sciences #1 Life science mergers I: New US and EU rules & recent cases

1st webinar of the 2nd « Antitrust in Life Sciences » Conference organised by Concurrences, in partnership with Gibson Dunn and Herbert Smith Freehills, with Paul Csiszar (Director - Basic Industries, Manufacturing and Agriculture, DG COMP), Kyriakos Fountoukakos (Managing Partner, Herbert Smith Freehills), Stacy E. Frazier (Executive Counsel - Competition Law and Policy, General Electric), Josh Kaul (Attorney General, Wisconsin Department of Justice), Stephen Weissman (Partner, Gibson Dunn) and Robert Willig (Professor, Princeton University).

Books

Merger Control in Latin America - A Jurisdictional Guide BOLIVIA

BOLIVIA Paula Bauer * Diego Rojas ** (C.R.  &  F. Rojas Abogados) Abstract The Bolivian Constitution dated 7 February 2009 provides the legal framework for competition, prohibition of monopolies and private oligopolies, and any kind of association or agreement between national or foreign (...)
Merger Control in Latin America - A Jurisdictional Guide VENEZUELA

VENEZUELA Alejandro Gallotti * (LE ĜA) Abstract Mergers and acquisitions in Venezuela are formally regulated by the typical parameters of “free competition” through the Antitrust Law. However, the Venezuelan economy does not operate in practice within these principles, as a series of law (...)
Merger Control in Latin America - A Jurisdictional Guide URUGUAY

URUGUAY Luciana Macedo * Natalia Jul ** (Uruguay Competition Commission) Abstract Uruguay's mergers control regime has recently been modified. The reform of Act No 18.159, by Act No 19.833 was approved on September 2019. The rules on the substantive analysis of mergers and acquisitions have (...)
Merger Control in Latin America - A Jurisdictional Guide PARAGUAY

PARAGUAY Cynthia Andino * (Independent consultant on competition and commerce) Abstract The National Constitution of Paraguay, in force since 1992, establishes competition as part of its legal framework. Later, the Competition Defence Act was enacted on 2013 (Law No 4956/2013) and its Rules on (...)
Merger Control in Latin America - A Jurisdictional Guide PANAMA

PANAMA Jorge Molina Mendoza * (Fabrega Molino) Abstract Despite the fact that Panama enacted its first antitrust laws in 1966, the protection of commercial competition has been anticipated, constitutionally, since at least 1946. Since then, the power to determine the legality of restrictive (...)
Merger Control in Latin America - A Jurisdictional Guide NICARAGUA

NICARAGUA Ernesto Rizo Pallais * Favio Batres P ** (BLP) Abstract Nicaragua has been developing a merger control system since 2006, when the Promotion of Competition Law was enacted (Law 601), establishing fundamental principles on the protection of competition, market access and consumer (...)
Merger Control in Latin America - A Jurisdictional Guide HONDURAS

HONDURAS Marvin Francisco Discua Singh * (Commission for the Defence and Promotion of Competition) Abstract In Honduras, the control of mergers began with the Competition Law. This has as its foundation the constitutional rule prohibiting monopolies and other anticompetitive conducts. The Law (...)
Merger Control in Latin America - A Jurisdictional Guide COLOMBIA

COLOMBIA Pablo Márquez * (Márquez Barrera Castañeda Ramírez) Abstract This paper provides a general overview of Colombian law with respect to merger control and economic integrations, including its institutional set-up, applicable law and guidance, as well as the basic foundations used by the (...)
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