The EU Commission fines a multinational cable and telecommunications company €124.5M for implementing its acquisition before obtaining approval (Altice / PT Portugal)

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EU Commission, Altice / PT Portugal, Case M.7993, 24 April 2018

The European Commission (Commission) announced today its decision to fine multinational cable and telecoms company Altice €124.5 million for breaching the EU Merger Regulation by implementing its 2015 acquisition of a telecommunications operator, PT Portugal, before notification to, or approval by, the Commission (so-called “gun-jumping”). This is the highest fine imposed by an antitrust authority for gun-jumping. Altice has already confirmed that it will appeal the decision to the EU's General Court. Whilst the

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