The EU General Court issues its judgment upholding the Commission’s decision to fine a telecommunications company for gun-jumping (Altice / PT Portugal)

On September 22, 2021, the European General Court issued its judgment upholding the decision by the European Commission (Commission) to fine Altice for gun-jumping in the acquisition of Portugal Telecom (PT) in 2015. The General Court did grant Altice a limited 5% reduction of part of the €124.5 million fine imposed. [1] This remains the highest fine imposed by an antitrust authority for gun-jumping, indicating that compliance with the standstill obligation under the European Merger Regulation (EUMR) is an important enforcement priority for the Commission. The decision follows a growing list of Commission cases imposing fines for similar violations: two companies were both fined €20 million, in 2014 and 2019 respectively; Canon was fined €28 million in 2019; and the Commission is

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Auteurs

  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)

Citation

Bill Batchelor, Frederic Depoortere, Giorgio Motta, Ingrid Vandenborre, Stéphane Dionnet, Geraldine De Vasconcelos Lopes, The EU General Court issues its judgment upholding the Commission’s decision to fine a telecommunications company for gun-jumping (Altice / PT Portugal), 1er octobre 2021, e-Competitions November 2021 - II, Art. N° 103655

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