Cautionary Tale for Mergers: Commission Imposes Record Gun-Jumping Fine

Cautionary Tale for Mergers: Commission Imposes Record Gun-Jumping Fine


By: Dr. Tobias Caspary, Neda Moussavi, Julie Flandrin

Last week, on 24 April 2018, the European Commission (the 'Commission') announced that it had imposed a fine of €124.5 million (US$152.3 million) on Altice, the Dutch cable and telecommunications company, for implementing its 2015 acquisition of PT Portugal before obtaining merger clearance from the Commission (termed 'gun-jumping').

The record amount imposed by the Commission dwarfs any other gun-jumping fine imposed by any other antitrust authority worldwide. While underlying rules that parties need to comply with during ongoing merger control reviews are not new, the fining decision stresses the need for merging parties to take gun-jumping rules seriously.

Additional Information
publications-detail.inc