22/09/2021
Today, the General Court of the European Union largely upheld the double gun jumping fine imposed by the European Commission on Altice for acquiring control over PT Portugal prior to notification to, and clearance by, the European Commission. This judgement is a clear warning to companies that they should limit the rights of the buyer over the target’s conduct between signing and closing in a notifiable transaction to what is necessary to ensure that the value of the target is preserved or to avoid its commercial integrity being compromised.
Persbericht General Court, 22 september 2021 – The General Court dismisses Altice Europe’s action against the Commission
decision imposing two fines totalling €124.5 million in connection with the acquisition of PT Portugal
Hof van Justitie – Arrest van 22 september 2021
Competition – Concentrations – Telecommunications sector – Decision imposing fines for putting into effect a concentration before it has been notified and authorised – Article 4(1), Article 7(1) and Article 14 of Regulation (EC) No 139/2004 – Legal certainty – Legitimate expectations – Principle of legality – Presumption of innocence – Proportionality – Gravity of the infringements – Implementation of the infringements – Exchange of information – Amount of fines – Unlimited jurisdiction
Case T-425/18
Lees hier de tekst van het arrest (ENG)
Bron : contrast law
