Archives: Competition Law

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Proposals published for radical overhaul of UK competition regime following Brexit

On 16 February, John Penrose MP published his long-awaited report into the UK’s competition regime.  Penrose was tasked by the UK Government with reviewing how the UK’s competition regime can: Play a central role in meeting the challenges of the post COVID-19 economy and in driving recovery.  The Government’s Policy Paper stated that “the pandemic … Continue Reading

EU General Court dismisses first two challenges to State aid awarded to national airlines in response to the COVID-19 pandemic

On 17 February 2021, the General Court of the European Union (“General Court”) in Cases T-259/20 and T-238/20 dismissed Ryanair’s challenges to pandemic aid packages introduced in France and Sweden in order to support the domestic airline sector. The judgments are the first ones where the General Court has decided on the legality of the … Continue Reading

2020 Competition Law Developments – Reviewing a Notable Year and Looking Ahead to 2021

Competition law appears to be at an inflection point. Over the past year, authorities, policy makers, and commentators across the globe have debated whether current laws and enforcement approaches are appropriately calibrated or whether they should be changed, including to try to protect interests that go well beyond the consumer welfare standard that has been … Continue Reading

Presentation of the results from the Covington/Brussels School of Competition immunity and leniency survey 2020

We recently presented to DG COMP the findings of the immunity and leniency survey 2020, which was conducted jointly by Covington and the Brussels School of Competition. The survey ran from December 2019 to March 2020 and asked competition law practitioners, enforcers and in-house counsels to share their observations on the perceived decline in immunity … Continue Reading

UK Supreme Court lowers the bar for collective actions

The UK Supreme Court has today ruled in favour of Walter Merricks, the former head of the UK Financial Ombudsman Service., in a hotly-anticipated judgment in the first opt-out competition class action brought in the UK. Background Mr Merricks is the proposed class representative for 46.2 million people who, between 22 May 1992 and 21 June … Continue Reading

UK CMA Published Recommendations for the Regulation of Digital Markets

The UK Competition and Markets Authority (“CMA”) has published advice to the UK Government on the design and implementation of a new regulatory regime for digital markets. The new regime, if implemented, will apply to certain digital businesses that are designated as having Strategic Market Status, or “SMS”. It will provide for ex ante regulation … Continue Reading

Brexit On-Demand Webinar – The CMA after the Brexit Transition Period

Covington’s Brexit Task Force is pleased to offer the next installment in a series of on-demand briefings focused on the impact of Brexit on business. The CMA after the Brexit Transition Period In this briefing, James Marshall and Thomas Reilly discuss the impact of Brexit on the future role of the UK CMA and highlight … Continue Reading

U.S. Antitrust Agencies Announce Proposed Changes to HSR Rules

Changes Would Create New Exemption for Minority Acquisitions and Increase Filing Obligations for Certain Entities Agencies Also Seek Public Comments that Could Lead to Additional Changes to the HSR Rules The Federal Trade Commission (“FTC”) and the Antitrust Division of the Department of Justice (“DOJ”) (the “Agencies”) announced proposed changes to the premerger notification rules … Continue Reading

The European Commission Adopts a White Paper on Foreign Subsidies to Protect the EU Single Market

On 17 June 2020, the European Commission (‘Commission’) published a White Paper “on levelling the playing field as regards foreign subsidies” which outlines a proposal for a series of new investigatory and enforcement tools, intended to identify and counteract the possible distortions of competition in the EU single market due to foreign subsidies. A public … Continue Reading

UK is left out of EU cooperation on Foreign Direct Investment, and will soon be “foreign”

The EU Regulation on Foreign Direct Investment (2019/452) (the “EU FDI Regulation”) will enter into force fully on October 11, 2020. Most notably, on this date, a cooperation and information sharing mechanism among Member States and the European Commission in respect of foreign direct investment (“FDI”) that has an ‘EU-dimension’ will come into effect. As … Continue Reading

The CMA’s approach to jurisdiction in recent merger cases

The Enterprise Act 2002 (“EA02”) affords the CMA broad discretion in asserting jurisdiction over mergers that may affect a UK market. Under the EA02, a relevant merger situation (“RMS”) exists where (i) two or more enterprises cease to be distinct; and (ii) either the UK turnover of the target exceeds £70 million (the “turnover test”) … Continue Reading

The CMA’s Guidance on Merger Assessments During the Coronavirus (COVID-19) Pandemic and Recent CMA Cases

On 22 April 2020, the UK Competition and Market Authority (“CMA”) published its guidance on ‘Merger assessments during the Coronavirus (COVID-19) pandemic’ (“the guidance”). Prior to the publication of the guidance, there was some speculation about whether the CMA would be more willing to accept ‘failing firm’ arguments as the economic impact of COVID-19 hit … Continue Reading

The European Commission launches an antitrust sector inquiry into the sector of Internet of Things for consumer-related devices and services

On 16 July 2020, the European Commission (“Commission”) announced that it has launched an antitrust sector inquiry into “consumer-related products and services that are connected to a network and can be controlled at a distance, for example via a voice assistant or mobile device.” Commission Executive Vice President and Competition Commissioner Vestager said that “[t]he … Continue Reading

The revision of the Vertical Block Exemption Regulation – What is likely to change?

Introduction On 25 May 2020, the European Commission (“Commission”) has published its Final Report of the support studies for the evaluation of its Vertical Block Exemption Regulation (“VBER”) and the accompanying Guidelines on Vertical Restraints (the “Final Report”). The Final Report was published following a public consultation from 4 February to 27 May 2019 to … Continue Reading

The New Normal? EU Commission Prepares a New Competition Enforcement Tool Aiming at Structural Competition Concerns

The European Commission (”Commission”) is preparing the ground for a new competition enforcement tool. This new tool could substantially extend the competition authority’s current enforcement powers and allow for far-reaching intervention where the Commission identifies structural competition concerns. In particular, following the proposal, the standard for intervention could be lowered significantly as the Commission may … Continue Reading

COVID 19 – US and EU Competition Law Implications (29 May 2020)

The Covington US and EU Competition/Antitrust teams will be updating you regularly, through the Covington Competition blog, on the competition/antitrust law implications – both procedural and substantive – of the COVID-19 crisis in the US and the EU.  This is our update for Friday 29 May 2020. Today’s new updates as compared to the previous … Continue Reading

French Public and Administrative Authorities Take Action on Climate Change

At a time when COVID-19 is having direct and indirect effects on the reduction of greenhouse gas (“GHG”) emissions and ensuing global warming, eight French regulators, including the French Competition Authority, issued on 5 May 2020 a joint working paper in which they highlight the need to take into account the “climate emergency” in defining … Continue Reading

Sustainability and Competition: Covington Assists Unilever on Submission to European Competition Authorities on the Competition Implications of Sustainability Cooperation

With the assistance of Covington, Unilever submitted the attached paper to the European Commission and a number of National Competition Authorities.  It suggests a possible framework for the application of EU competition law to sustainability collaborations between competitors. The paper reflects insights from experts across Unilever and puts forward examples of existing or possible co-operations, … Continue Reading

COVID 19 – US and EU Competition Law Implications (12 May 2020)

The Covington US and EU Competition/Antitrust teams will be updating you regularly, through the Covington Competition blog, on the competition/antitrust law implications – both procedural and substantive – of the COVID-19 crisis in the US and the EU.  This is our update for Tuesday 12 May 2020. Today’s new updates as compared to the previous … Continue Reading

The European Commission Includes Recapitalisation Measures in the Temporary Framework for State Aid Measures to Support the Economy During the COVID-19 Outbreak

On 8 May 2020, the European Commission (“Commission”) adopted a second amendment (the “New Amendment”) to the Temporary Framework for State aid measures to support the economy during the COVID-19 outbreak (the “Temporary Framework”) (see our previous post on the Temporary Framework here and on the first amendment here). The New Amendment sets out the … Continue Reading

COVID 19 – US and EU Competition Law Implications (6 May 2020)

The Covington US and EU Competition/Antitrust teams will be updating you regularly, through the Covington Competition blog, on the competition/antitrust law implications – both procedural and substantive – of the COVID-19 crisis in the US and the EU.  This is our update for Wednesday 6 May 2020. Today’s new updates as compared to the previous … Continue Reading

The UK Court of Appeal Clarifies the Legal Test for Excessive Pricing

Under Article 102 of the Treaty on the Functioning of the European Union (“TFEU”), an undertaking may abuse its dominant position by “directly or indirectly imposing unfair purchase or selling prices”.  The UK Court of Appeal recently provided guidance regarding the legal test to determine whether pricing is excessive and unfair.  In March, it dismissed … Continue Reading

COVID 19 – US and EU Competition Law Implications (30 April 2020)

The Covington US and EU Competition/Antitrust teams will be updating you regularly, through the Covington Competition blog, on the competition/antitrust law implications – both procedural and substantive – of the COVID-19 crisis in the US and the EU.  This is our update for Thursday 30 April 2020. Today’s new updates as compared to the previous … Continue Reading

German Competition Authority Provides Guidance on the Interplay of Merger Control and FDI Screening

On 27 April 2020 the Federal Cartel Office in Germany (“FCO”) cleared the acquisition of Vossloh Locomotives GmbH (“Vossloh Locomotives”) by Chinese manufacturer CRRC Zhuzhou Locomotives Co. Ltd. (“CRRC”). FCO President Andreas Mundt stated that the in-depth investigation found that initial concerns were not serious enough to justify prohibiting the transaction. The FCO released a … Continue Reading
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