Introduction On September 26th, the European Commission prohibited the acquisition of the online flight booking service eTraveli by Booking Holdings, the leading provider of online hotel bookings in the European Economic Area (EEA). The Commission argues that the acquisition would have strengthened Booking’s dominant position in the market for online hotel bookings by enabling it…

Effective 24 May 2023 the Moroccan legislator introduced new, increased merger control notification thresholds. While the increase in notification thresholds is welcome, the more relevant change is that the new turnover thresholds always require that the parties have turnover in Moroccan. While this change does not entirely resolve existing problems with a lack of local…

The Indian merger control framework is governed by the Competition Act, 2002 (Act) and The Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations). To re-align with evolving regulatory needs and streamline processes, Combination Regulations have been reformed periodically. Earlier this year, the Competition (Amendment)…

The EU Foreign Subsidies Regulation took effect on 12 July 2023 to much fanfare. We take a look at the top five things PE funds need to know when considering acquisitions with a European footprint. The Foreign Subsidies Regulation (“FSR”) is the European Commission’s attempt to level the playing field for M&A deals by creating…

The EU Foreign Subsidies Regulation (FSR) gives the European Commission (the Commission) broad powers to investigate and remedy distortions of the European Union (EU) internal market caused by non-EU subsidies and subjects significant acquisitions and public tenders to a new EU notification and approval regime. The Commission’s publication of an implementing regulation (the Implementing Regulation)…

Advocate General Anthony Michael Collins has proposed that the European Court of Justice upheld the General Court’s Altice judgment. In his Opinion, he considered that entering into certain types of pre-closing covenants by an acquirer may constitute gun-jumping, regardless of the absence of the transfer of shares. AG Collins emphasised the importance of deterrence when…

            On 20 April 2023 the EU Commission adopted a new legislative package aimed at simplifying its procedures for reviewing transactions under EU merger control rules. Under the new rules the Commission seeks to assess more cases under the simplified procedure and reduce overall reporting requirements by 25%. The new…

The long-awaited European Court of Justice’s judgment in Towercast confirmed that national competition authorities (and national courts) can apply abuse of dominance rules to mergers that did not trigger EU and national merger control thresholds and were not referred to the European Commission under Article 22 of the EU Merger Regulation. However, uncertainties still remain….

Introduction On 24 March 2023, China’s antitrust authority – the State Administration for Market Regulation (“SAMR”) – issued four regulations implementing the recently amended Anti-Monopoly Law (“AML”): Regulation Prohibiting Monopoly Agreements (“Agreements Regulation”); Regulation Prohibiting Conduct Abusing a Dominant Market Position (“Abuse of Dominance Regulation”); Regulation on the Review of Concentrations between Business Operators (“Merger…

Are big companies necessarily bad? If they are, how can we ensure that companies do not become too big and too bad? How can markets remain free, fair and competitive? Competition law has tried to answer these questions for centuries, with the most recent debates revolving around the alleged anti-competitive conduct of large tech companies….