Antitrust, competition
and trade
Briefings
Briefings in English - 2008
European Commission: focus on foodThe European Commission has published a report recommending greater regulatory scrutiny of the competitive environment throughout the food industry in the EU. It notes that the current economic conditions in the industry create a heightened risk of anti-competitive practices. This briefing focuses on the antitrust aspects of the report and sets out the possible implications for operators at all levels of the food supply chain, suggesting some practical measures they may wish to consider in anticipation of the Commission’s next steps. (December 2008)
European Commission priorities for action on dominant companiesOn 3 December 2008 the European Commission adopted its ‘Guidance on the Commission’s Enforcement Priorities in Applying Article 82 EC Treaty to Abusive Exclusionary Conduct by Dominant Undertakings’. Here we comment on both that guidance and recent US developments in this area, and on the future outlook for companies with strong market positions. (December 2008)
Antitrust in the downturnThe credit crunch and economic downturn have brought about new challenges for competition law, for those subject to it and for those who administer it. This briefing explores the latest developments and discusses how they may play out in the longer term. (November 2008)
China’s MOFCOM imposes conditions on InBev’s acquisition of Anheuser-BuschOn 18 November 2008, the Chinese Ministry of Commerce published its decision to clear InBev NV/SA’s proposed US$52bn acquisition of Anheuser-Busch Companies Inc, subject to conditions. This decision marks the first time that a merger decision under the new Chinese Anti-monopoly Law has been published and the first time that merging parties have been required to agree to undertakings in order to obtain clearance under the new law. (November 2008)
Final regulations governing US national security reviews issuedOn November 14, 2008, the US Department of the Treasury released final revised regulations governing the national security review of transactions undertaken by the Committee on Foreign Investment in the United States under the Exon-Florio Act.
State aid to financial institutionsThe European Commission has issued guidance on how it will assess State aid to financial institutions in the context of the current international global financial crisis. While the general principles for assessing aid such as guarantees or recapitalisation are familiar, the Commission has introduced more flexibility and more rapid decision‑making. (October 2008)
Cartel damages actionsRestitutionary remedies are not available in cartel damages actions. Compensatory damages are an adequate and appropriate remedy. This is the outcome of today’s Court of Appeal ruling in Devenish Nutrition Limited v Sanofi-Aventis SA and others. (14 October 2008)
Damages claims in the UK Competition Appeal TribunalThe time limit for bringing damages claims before the UK Competition Appeal Tribunal does not start to run until all appeals against the underlying infringement decision have been determined. This applies whether the appeal is against the substance of the infringement decision or merely against the level of the fine imposed. It also applies to damages claims against all addressees of the infringement decision, even if they have not all filed appeals. (September 2008)
ECJ ruling on pharmaceuticals supply restrictionsThe European Court of Justice has indicated limits that dominant companies must observe when taking measures to restrict parallel trade. The judgment provides important guidance to the pharmaceuticals sector and emphasises the continuing importance of the single market integration aim in the interpretation of EU competition law. (September 2008)
European Court rejects claim for damages arising from unlawful merger prohibitionThe European Court of First Instance (CFI) has rejected MyTravel Group’s claim for damages arising from the unlawful prohibition by the European Commission of its proposed merger with First Choice in 1999. In so doing, the CFI has in effect emphasised that there is a strong Community interest in maintaining a robust and sustainable European merger control regime which, absent exceptional circumstances, needs to be protected against the threat of extensive damages claims. (September 2008)
Private Enforcement in the European Union: Pitfalls and OpportunitiesAn analysis of existing mechanisms and instruments in the area of antitrust law, environmental law, consumer product safety and capital market law. (August 2008)
China publishes merger control notification thresholdsOn 3 August 2008 the Chinese State Council published the long-awaited merger control notification thresholds. These thresholds provide welcome clarity and are an improvement on the previous law. Also welcome is the removal of the market share thresholds contained in the draft thresholds published in March.
China’s Anti-monopoly Law enters into force with little guidance on how companies should complyOne year after its adoption, China’s new Anti-monopoly Law (AML) came into effect today. It introduces the first comprehensive competition law code to China. The AML will have significant ramifications for how companies within and outside China conduct their business, not least because companies that violate the new law can be subject to severe penalties. However, uncertainty remains over how the new regime will work. This briefing explains some of the AML’s implications for businesses, some of the areas that still need clarifying and the role of courts. (1 August 2008)
ECJ reinforces procedural safeguards for merging partiesThe European Court of Justice (ECJ) has annulled the Court of First Instance’s Impala judgment of July 2006. In upholding an appeal against the judgment by Sony and Bertelsmann, the ECJ has reinforced a number of important procedural safeguards for merging parties. It has also clarified the standards expected of the European Commission in merger clearance cases and the legal test in ‘tacit coordination’ cases.
European Commission adopts settlement procedure for cartel casesThose involved in European Commission cartel investigations may have the possibility of settling early with a 10 per cent discount on their fines now that the Commission has adopted its notice and regulation providing for settlements in appropriate cartel cases. Parties opting for settlement should benefit not only from lower fines, but also from a quicker and less burdensome administrative procedure – although whether a company should opt for settlement in a given case is likely to be a finely balanced decision. (July 2008)
Landmark criminal convictions for cartel activityThe possibility of individuals serving prison time for cartel activity is now very much a reality in the UK following the sentencing this week of three UK nationals to terms of imprisonment. (June 2008)
Hong Kong’s new competition lawOn 6 May 2008, the Hong Kong government launched a second public consultation on a comprehensive, cross-sector competition law. This briefing will outline the key elements of the proposals that shape Hong Kong’s unique competition law, highlighting areas for which debate and uncertainty remain. (May 2008)
Proposed changes to the US national security review of transactionsThe US Treasury Department recently issued proposed regulations completely updating and revising the existing regulations originally issued under Exon-Florio, which provides for national security review of foreign investments in the US. The proposal to some extent seeks to memorialise certain existing practices but also underscores the breadth of transactions potentially reviewable and the considerable amount of information required to be supplied as part of the review process. (May 2008)
Court upholds Deutsche Telekom margin squeeze fineIn May 2003 the European Commission fined Deutsche Telekom €12.6m for abusive pricing of access to its local fixed telecommunications network and required the infringement to be brought to an end immediately. The European Court of First Instance has now upheld the Commission’s decision in full. The Court’s judgment clarifies the relationship between sector regulation and competition law. (April 2008)
Facilitating compensation for breach of competition rules: the White PaperThe European Commission has put forward some potentially far-reaching and significant suggestions in its White Paper on damages actions for breach of EC Treaty antitrust rules, published on 3 April 2008. It recommends measures aimed at ensuring that all victims of anti-competitive behaviour are able to obtain full compensation for harm suffered. This is to be achieved through a combination of Community and member state action. Comments are invited by 15 July 2008. (April 2008)
President Bush issues changes to the Exon-Florio U.S. national security review processPresident Bush has issued an Executive Order laying the groundwork for the implementation of changes to the U.S. national security review process called for by legislation enacted by Congress last year. It is expected that the Committee on Foreign Investment in the United States soon will issue proposed changes to the relevant regulations governing the review process. (January 2008)
Briefings in German - 2008
EuGH prüft Ausschreibungspflicht für Grundstücksverkäufe der öffentlichen HandMit der Vorlageentscheidung des OLG Düsseldorf vom 2. Oktober 2008 geht die Diskussion über das Bestehen von vergaberechtlichen Ausschreibungspflichten bei Grundstücksgeschäften der öffentlichen Hand in die nächste Runde. Nachdem im Laufe des letzten Jahres mehrere deutsche Oberlandesgerichte der »Ahlhorn-Rechtsprechung « des OLG Düsseldorf gefolgt waren, ist von der Entscheidung des EuGH endlich Rechtsklarheit und -sicherheit zu erwarten. Bis zur Entscheidung des EuGH sollten öffentliche Auftraggeber jedoch weiterhin im Einzelfall genau prüfen, ob sie die aus der Nichtbeachtung möglicher Ausschreibungspflichten folgenden Risiken eingehen wollen. (Oktober 2008)
Briefings in Chinese - 2008
China's MOFCOM imposes conditions on InBev's acquisition of Anheuser-Busch中国商务部于2008年11月18日公布：其决定附条件批准英 博集团公司拟议对安海斯-布希公司进行的价值520亿美 元的收购。上述决定是中国新《反垄断法》下公布的首个 合并控制决定，亦是为获得新法规定的审查批准而首次要 求合并交易各方遵守附加条件承诺的决定。
China publishes merger control notification thresholds2008年8月3日，即中国新的《反垄断法》生效后两 天，中国国务院公布了人们期待已久的合并控制申 报标准。这些标准受到欢迎，因其明确了申报标准，而且较之之前的法律亦有所改进。此外，该合并控 制申报标准另外一个受欢迎之处在于：其摒弃了3 月份公布的申报标准草案中的市场份额标准。但新 标准保留了早前草案中的“保留权力”（使中国合并 控制主管部门能够对未触及申报标准的交易进行审 核）。目前在一些实质性及程序性问题（如“集中” 的定义、交易的加速审核及保密）上尚未有指导原 则公布。
China's Anti-monopoly Law enters into force with little guidance on how companies should comply中国新的《反垄断法》（《反垄断法》）在通过 一年之后于今日生效。新法为中国引入了第一 个全面的竞争相关法规。《反垄断法》对中国境 内外企业的业务运作方式将产生重大影响，相当 重要的一个原因在于：违反新法的企业会遭受严 厉的惩罚。但在新法如何运作方面仍存在不确定 性。本简报介绍了《反垄断法》将对企业产生 的一些影响、一些仍需进一步明确的领域以及法 院的职责。
Hong Kong's new competition law2008年5月6日，香港政府就跨行业的全面竞争法启 动第二轮公众咨询。根据咨询文件，预计该项法律 的监管对象仅为反竞争协议以及滥用“重大市场地 位”的行为，而对并购反垄断审查并无具体规定。公 众咨询将于2008年8月5日结束，随后香港政府计 划于2008-2009立法年度提出竞争法案。本简报将 概述构成香港独特竞争法提案的要素，并重点介绍 争议与不确定情况尚存的领域。
China consults on merger control implementing regulations中国国务院昨日公布了有关执行《反垄断法》（将于 2008年8月1日生效）项下并购反垄断审查的规定草 案。草案中的许多条文对于中国现有的并购反垄断 审查机制作出了令人欢迎的澄清并强化了程序。但 是，其细节中潜藏了一些可能令在中国从事业务的公 司担心的问题。尤其是，成为一家公司的单一最大 股东即足以构成控制权变化，以及就未达到申报标 准的交易保留进行监管审查权力的建议条文，可能 会引起高度关注。国务院要求于2008年4月12日之 前就草案提出意见。
Briefings in Japanese - 2008
中国商務部がインベブによる アンハイザー・ブッシュの買収に つき条件付き承認2008年11月18日、中国商務部は、インベブによる アンハイザー・ブッシュの520億米ドル規模の買収 を条件付きで承認する決定を公表した。これは、 独占禁止法上の企業結合に関する決定が公表され た初めてのケースであり、また、買収当事者が独占 禁止法上の承認を得るために制限条件に同意する ことが要求された初めてのケースである。(2008年11月)
For information on the different formats of our publications, please view our accessibility page.
Search publications
News
John Davies and Martin Klusmann appointed to lead Freshfields global competition practice View
Freshfields advises a syndicate led by Barclays on the sale and refinancing of Breedon Holdings View