Post-clearance modification and waiver of EU merger remedies: When the hardest may be yet to come

I. Introduction 1. Could clearance create more problems than a prohibition for the parties to a concentration? This is a real question for companies faced with considerable difficulties in implementing the merger remedies that conditioned a clearance. 2. Under the EU Merger Regulation (“EUMR”), [1] where the European Commission considers that a concentration would significantly impede effective competition in the common market, in particular as a result of the creation or strengthening of a dominant position, it must prohibit the transaction, unless the parties submit remedies rendering the concentration compatible with the common market. [2] 3. Remedies are not a rare instance in EU merger control. As of 31 May 2014, approximately 6% of all cases notified to the Commission since