The French Competition Authority inflicts its highest fine ever for gun-jumping (Altice)

Highest fine ever for gun-jumping* On 8 November 2016, the French Competition Authority (FCA) fined French-based Altice group and its telecommunications subsidiary SFR 80 million euros for the coordination of their commercial behaviour in the period between the acceptance of Altice’s purchase offer of SFR and the FCA’s merger clearance decision. This is the highest fine ever imposed by a competition authority on companies for gun-jumping, namely the early implementation of a merger prior to its clearance in accordance with merger control rules. What happened? In March 2014, Altice and its cable operator subsidiary Numericable made an offer for the purchase of SFR. The offer was accepted in April 2014 and the share purchase agreement was executed in June

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Auteur

  • Hogan Lovells (Paris)

Citation

Eric Paroche, The French Competition Authority inflicts its highest fine ever for gun-jumping (Altice), 8 novembre 2016, e-Competitions November 2016, Art. N° 82308

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