News

15 | 12 | 2011

Patent Acquisition, Patent Wars and Technology Transfer: A Growing Area of Interest for Competition Policy

Company strategies in the area of intellectual property rights have long been almost exclusively the province of IP Law. This is rapidly changing. Competition authorities are having a closer look at how companies acquire IPRs, and how they enforce the IP rights that they hold. The European Commi... More

07 | 12 | 2011

CRA's Annual Conference takes place in Brussels

CRA's annual conference on "Economic Developments in European Competition Policy" took place in Brussels on 7 December. The programme included four Chief Economists from major European agencies (DG Competition, the UK Competition Com... More

24 | 11 | 2011

Competition Commission clears BATS/Chi-X Europe merger

Alan Overd and Rameet Sangha advised BATS Trading Limited, owned by BATS Global Markets Inc, on its anticipated acquisition of Chi-X Europe Limited. Both companies operate Multilateral Trading Facilities (MTFs) which enable market parti... More

25 | 10 | 2011

Competition Commission provisionally clears Kerry/Headland merger

The Competition Commission has provisionally cleared the completed acquisition of Headland's frozen ready meals (FRM) business by Kerry Foods. Before the merger in January 2011, Kerry and Headland were the two largest suppliers of own-label and contract-packed FRMs to UK customers (typically supe... More

19 | 10 | 2011

European Commission clears acquisition of MWM by Caterpillar

The European Commission has unconditionally cleared Caterpillar's proposed acquisition of MWM, a German maker of reciprocating engine generator sets, or gensets, used for decentralised electricity production, after an in-depth Phase II investigation. While the Commission considered that the merge... More

12 | 10 | 2011

New colleagues from the Chief Economist Team and academia

CRA has expanded its team in Brussels by recruiting three economists from the Chief Economist Team at DG Competition. Dr Raphaël De Coninck, Dr Greg Langus and Dr Hans Zenger all join CRA's Brussels office as Senior Consultants. In addition Pierre Régibeau - a well-known academic eco... More

19 | 09 | 2011

CRA experts to teach course on the role of economics in competition law and practice at UCL

A team of experts from CRA's European Competition Practice, together with Dr Andrea Coscelli (Director of Competition Economics at Ofcom), will be teaching a course on "The Role of Economics in Competition Law & Practice" organised by the Centre for Law, Economics & Society at UCL. The CRA team i... More

12 | 09 | 2011

CRA to hold Annual Brussels Conference on 7 December 2011

The CRA Annual Brussels Conference on Economic Developments in European Competition Policy will be held on Wednesday 7 December 2011 at the Conrad Hotel, Brussels.

For further information on confirmed speakers and how to register, click here[/... More

31 | 08 | 2011

Competition Commission clears Sector/Butlers merger

The CC has cleared the completed "4 to 3" acquisition by Sector Treasury Services Limited (STS) of Butlers, a trading division of ICAP plc, which provides treasury management advisory (TMA) services. STS is a wholly-owned subsidiary of Capita Business Services Limited. Prior to the merger, both c... More

28 | 07 | 2011

Successful appeal against South African Competition Commission

The South African Competition Tribunal has instructed the Competition Commission to reassess its decision to unconditionally allow the merger between printing company Paarl Media and Primedia@Home, a media distribution firm. The merger was approved in January of this year but the Tribunal has rul... More

26 | 07 | 2011

EC clears INEOS's acquisition of Tessenderlo's S-PVC Assets, following a Phase I investigation

The European Commission has unconditionally cleared the acquisition of Tessenderlo's S-PVC Assets by INEOS following a Phase I investigation. Both parties are active in the production, marketing and sale of polyvinyl chloride (PVC) and caustic soda. The Commission was concerned about the impact o... More

28 | 06 | 2011

Irish Minister for Finance approves acquisition of EBS Building Society by Allied Irish Banks

On 28th June 2011, the Irish Department of Finance announced that the Minister for Finance has approved the proposed acquisition of EBS Building Society (EBS) by Allied Irish Banks plc (AIB). Both institutions are substantially owned by the Irish State.

Under the Credit Institutions (Fina... More

28 | 06 | 2011

Damien Neven joins CRA

Professor Damien Neven, Chief Economist at DG Competition until last April, has joined Charles River Associates as Senior Academic Consultant.

Professor Neven teaches Economics at the Graduate Institute at the University of Geneva, and will work closely with CRA's consulting economists and... More

01 | 06 | 2011

European Commission clears creation of Styrolution Joint Venture at Phase I

On 1 June 2011 the European Commission cleared the merger of BASF's and INEOS's styrene businesses, to create a new joint venture active in the production of styrene and derivatives including PS, ABS and SAN, creating a number of horizontal and vertical overlaps.

Unusually for a Phase I tr... More

26 | 05 | 2011

Germany's Federal Cartel Office publishes final report on fuel sector inquiry

On 26 May 2011 the German Federal Cartel Office (FCO) published its final report on its fuel sector inquiry. It concludes there is a "market-dominant oligopoly" in the German petrol retailing market, consisting of BP (Aral), ConocoPhilips (Jet), ExxonMobil (Esso), Shell and Total. In light of the... More

11 | 04 | 2011

South African Competition Appeal Court upholds Tribunal decision against SAA

On 11 April 2011 the Competition Appeal Court of South Africa upheld the finding by the Competition Tribunal that South African Airways (SAA) had abused its dominant position in the South African airline market during the period 2001 to 2005. The anti-com... More

18 | 03 | 2011

Unilever/Alberto Culver deal cleared in first phase in the UK, Ireland and South Africa

The acquisition by Unilever of the Alberto Culver personal care brands created overlaps in several jurisdictions, typically in hair care, hair styling and body care. The deal has been cleared unconditionally in first phase, despite material overlaps, both by the Irish Competition Authority and b... More

21 | 12 | 2010

European Commission clears proposed acquisition of BSkyB by News Corp

On 21 December 2010 the European Commission unconditionally cleared at Phase I the proposed acquisition by News Corp of the remaining 60.9% of the shares in BSkyB which it does not already own.

News Corp and BSkyB are mainly active in different markets in the UK and Ireland and compete wit... More

14 | 12 | 2010

Kai-Uwe Kühn to succeed Damien Neven as Chief Economist at DG Competition

CRA's Academic Associate Professor Kai-Uwe Kühn of the University of Michigan has been appointed the new Chief Economist at DG Competition, to succeed Damien Neven who held the position since 2006.

Professor Kühn is a noted IO economist with a record of publications both on theor... More

08 | 12 | 2010

CRA's Annual Conference takes place in Brussels

CRA's annual conference on "Economic Developments in European Competition Policy" got underway in Brussels on 8 December. The programme (see here) included seven Chief Economists from as many major agencies (DG Competition, the US Department ... More

17 | 11 | 2010

Unilever's acquisition of Sara Lee Household and Body Care business cleared, subject to divestments

On 17 November 2010 after an in-depth investigation the European Commission cleared the acquisition by Unilever of the Sara Lee Household and Body Care business, subject to the divestment of Sara Lee's Sanex brand to resolve the horizontal overlap in the market for deodorants in a number of Europ... More

09 | 11 | 2010

CRA Annual Conference: Full Programme Announced

CRA's Annual Conference on Economic developments in European competition policy will take place on Wednesday 8 December 2010 at the Conrad Hotel, Brussels.

The full programme and details of how to register are available here.

More

26 | 10 | 2010

OFT clears acquisition of BSS by Travis Perkins, subject to conditions

The OFT has cleared the acquisition of BSS Group by Travis Perkins (TP), subject to the sales of outlets in 20 local areas.

The main overlap between the parties arises due to the combination of TP's City Plumbing Supplies subsidiary and BSS's Plumbing Trade Supplies subsidiary, both of whi... More

18 | 10 | 2010

Rio Tinto and BHP Billiton abandon plans for iron ore joint venture

On 18 October 2010 Rio Tinto and BHP Billiton announced their decision to abandon plans for their iron ore joint venture in Western Australia. This ended a 16 month period of interactions with numerous regulatory agencies around the world - including the European Commission, the Federal Cartel O... More

29 | 09 | 2010

European Commission accepts ENI's commitments in the Italian gas market

On September 29 2010 the European Commission accepted the commitments offered by Italian energy company ENI to divest its stakes in three international gas pipelines to Italy. This brings to an end a lengthy Article 102 investigation by the Commission which centered on the claims that ENI may hav... More

01 | 09 | 2010

CRA to hold Annual Brussels Conference on 8th December 2010

CRA will hold its annual conference "Economic Developments in European Competition Policy" at the Conrad Hotel, Brussels, on 8 December 2010. Information on confirmed speakers and how to register is available here.

More

09 | 08 | 2010

Novartis/Alcon cleared at Phase I subject to conditions

On 9 August 2010 the European Commission approved Novartis' proposed acquisition of a majority interest in Alcon, subject to conditions, following a Phase I investigation.

Novartis and Alcon are global pharmaceutical companies, both of which are active in ocular pharmaceuticals and consume... More

26 | 07 | 2010

European Commission clears Schlumberger's acquisition of Smith International at Phase I

On 26 July 2010 the European Commission approved the acquisition of Smith International by Schlumberger without conditions, after a Phase I investigation. Both companies provide oilfield services.

The Commission examined the effects of the acquisition in the markets for directional drillin... More

06 | 07 | 2010

General Court upholds prohibition of acquisition of Aer Lingus by Ryanair

On 6 July 2010, the General Court of the European Union upheld European Commission's prohibition of the acquisition of Aer Lingus by Ryanair.

The Commission had prohibited the takeover in 2007 on the grounds that the acquisition would have created a quasi-monopolist on a large number of sh... More

25 | 06 | 2010

OFT clears acquisition of Inovis by GXS

On 25 June 2010, the OFT unconditionally cleared the acquisition of Inovis by GXS.

Both companies are global providers of business-to-business e-commerce services, enabling the electronic exchange of business documents such as purchase orders and invoices between companies using EDI (Elect... More

17 | 06 | 2010

EC clears Procter & Gamble's acquisition of Sara Lee Air Care in Phase I

On 17 June 2010 the European Commission approved at Phase I the acquisition by Procter & Gamble (P&G) of Sara Lee's air care business, without conditions. Both companies manufacture air fresheners under the Febreze brand (P&G) and the Ambi Pur brand (Sara Lee Air Care).

The ... More

20 | 04 | 2010

US unveils proposed new Horizontal Merger Guidelines

On 20th April 2010 the FTC and DOJ published proposed revisions to the US Horizontal Merger Guidelines for public consultation. The publication comes a year after the appointment of new senior staff to both agencies, including Professor Carl Shapiro at the DOJ and Professor Joseph Farrel at the ... More

29 | 03 | 2010

Cisco / Tandberg video-conferencing merger cleared by the European Commission at Phase I

On 29 March 2010 the European Commission approved, subject to remedies, the acquisition of Tandberg, one of the leading players in the market for video-conferencing solutions, by Cisco. The Commission's investigation focused on whether the transaction would give rise to horizontal concerns in the... More

04 | 03 | 2010

Autorité de la concurrence rejects complaint against Carrefour

On 4 March 2010, the French Competition Authority (Autorité de la concurrence) published a decision rejecting a complaint lodged by SEFAG, a syndicate of grocery retailers, against the Carrefour Group for abuse of economic dependence. SEFAG claimed that Carrefour Group locked the franchise... More

17 | 02 | 2010

South African Competition Tribunal finds that SAA abused its dominance in complaint brought by Comair

On 17 February 2010 the South African Competition Tribunal ruled that South African Airways (SAA) had abused its dominant position in the South African airline market during the period 2001 to 2005. The anti-competitive conduct consisted of the offer of exclusionary incentive schemes to domestic ... More

10 | 02 | 2010

OFT clears Ambassador/Live Nation theatre deal

On 10 February 2010, the OFT gave unconditional clearance to the acquisition by Ambassador Theatre Group (ATG) of the theatres formerly owned by Live Nation (LN). ATG and LN owned large portfolios of theatres in the UK, with venues in 22 locations including London's West End.

A number of ... More

26 | 01 | 2010

French Competition Authority clears acquisition of TMC and NT1 by TF1

On 26 January 2010, the French Competition Authority (FCA) conditionally cleared the acquisition by TF1, the main traditional French broadcasting channel, of full control over TMC and NT1, two digital terrestrial channels. After a Phase II investigation, the FCA concluded that without remedies, t... More

19 | 01 | 2010

The French Appeal Court slashes fines in the steel wholesaling cartel

In its ruling of January 19 2010, the Cour d'Appel de Paris reduced the fines imposed by the Conseil de la Concurrence in December 2008 from a total of €575.33M to €72.325M. While endorsing the Conseil's conclusions on the existence and duration of the infringement, the Court determine... More

15 | 01 | 2010

French Competition Authority appoints CRA`s Academic Associate Thibaud Vergé as Chief Economist

The Autorité de la concurrence (French Competition Authority) has announced today the appointment of Thibaud Vergé as its Chief Economist with effect from 1st February.

Thibaud Vergé is a research fellow at the Laboratoire d'Economie Industrielle of CREST, the economic... More

09 | 12 | 2009

7th Annual Competition Conference in Brussels

CRA held its 7th annual conference on Economic Developments in European Competition Policy in Brussels on 9 December. Over 400 participants attended the event, which was opened by Damien Neven, Chief Economist at DG Competition.

The conference covered a variety of topics in European compet... More

18 | 11 | 2009

European Commission approves restructuring plan of Lloyds Banking Group

On 18 November 2009, the European Commission approved the restructuring plan of Lloyds Banking Group (LBG). The plan addressed the financial support package of £17bn received in October 2008 (which effectively gave the state a 43.5% stake in LBG) and additional state aid measures. The Comm... More

29 | 09 | 2009

Panasonic and Sanyo merger cleared at Phase I

On 29 September 2009 the European Commission cleared the merger between Panasonic and Sanyo subject to remedies to resolve horizontal overlaps in the production of certain portable batteries. The parties' commitments consist of the divestment of a plant that produces cylindrical lithium and rech... More

16 | 09 | 2009

Professor John Van Reenen awarded 2009 Yrjö Jahnsson Award

The Yrjö Jahnsson Award is Europe's most prestigious prize for economic researchers, given every 2 years to a European economist under the age of 45. This year's winners were John Van Reenen and Fabrizio Zilibotti. The Award Committee's report says of Professor Van Reenen's work that he "h... More

03 | 09 | 2009

Autorité de la Concurrence rejects interim measures against Janssen-Cilag

On 3 September 2009, the Autorité de la Concurrence (the French competition authority) published a decision rejecting the request of interim measures by the generic pharmaceuticals firm Ratiopharm against Janssen-Cilag, an originator pharmaceuticals company. The Authority decided that the ... More

28 | 08 | 2009

EC clears Lufthansa/Austrian Airlines merger, subject to conditions

On 28 August 2009, the European Commission cleared the acquisition of Austrian Airlines by Lufthansa following a Phase II review, which opened on 1 July 2009. The Commission's initial Phase I investigation found that the proposed transaction would lead to competition concerns with respect to int... More

07 | 08 | 2009

OFT clears Centrica acquisition of British Energy stake unconditionally

The Office of Fair Trading has unconditionally cleared Centrica's acquisition of a 20% stake in British Energy - the UK's largest electricity generator with eight nuclear power stations. The transaction raised a number of potential competition issues. Complaints from industry participants focus... More

17 | 07 | 2009

European Commission clears Pfizer/Wyeth merger at Phase I, subject to conditions

On 17 July 2009 the European Commission cleared the proposed acquisition of Wyeth by Pfizer, subject to conditions. Both companies are active in the fields of human pharmaceuticals and animal health products. The proposed merger gave rise to well over 200 national affected markets, the majority o... More

06 | 07 | 2009

Ryanair appeal heard before the CFI

On 6 July 2009 the Court of First Instance heard the appeal of the European Commission's decision to prohibit the hostile takeover of Aer Lingus by Ryanair. The Commission had prohibited the deal in 2007 on grounds that the acquisition would have created a quasi-monopolist on a large number of sh... More

02 | 07 | 2009

Jury acquits defendants of cartel allegations in waste collection market in County Mayo

On 2 July 2009 a jury in the Central Criminal Court in Galway acquitted all five defendants in an alleged cartel case in the waste collection market in County Mayo, Republic of Ireland. Despite three and a half years of investigation, it became apparent during the trial that the Competition Auth... More

22 | 06 | 2009

EC clears Lufthansa/Brussels Airlines merger, subject to conditions

On 22 June 2009, the European Commission cleared the acquisition of Brussels Airlines by Lufthansa following a Phase II review. During the Phase II investigation the European Commission examined potential competition issues on six routes between Belgium and Germany and between Belgium and Switze... More

13 | 05 | 2009

Intel announces plans to appeal European Commission abuse-of-dominance decision

On 13th May 2009 the European Commission announced its decision that Intel has violated Article 82 of the EC Treaty by abusing its dominant position in the market for x86 central processing unit (CPU) computer chips. Intel, which was advised by CRA throughout the Commission's investigation, has a... More

22 | 04 | 2009

CRA Senior Consultants named to top US antitrust positions

On 22 April 2009 the Antitrust Division of the US Department of Justice announced the appointment of Carl Shapiro as Deputy Assistant Attorney General for Economic Analysis, Antitrust Division. Shapiro is the Transamerica Professor of Business Strategy at the Haas School of Business and Professor... More

21 | 04 | 2009

European Commission clears merger between Swedish and Danish postal operators at Phase I

On 21 April 2009 the European Commission cleared the merger between Posten and Post Danmark - the first merger between European incumbent postal operators. The merger was cleared subject to remedies to resolve a horizontal overlap in the Danish domestic standard business-to-business parcel marke... More

19 | 03 | 2009

Essay Competition - Winner Announcement

We are pleased to announce the winner and runners up of the 2008/09 CRA Economics Essay Competition.

This competition was open to all undergraduate and postgraduate students specialising in Economics or Mathematics and was advertised at various careers fairs and events during the autumn t... More

04 | 02 | 2009

EC clears Sanofi-Aventis acquisition of Zentiva, subject to conditions, after a Phase I investigation

On 4 February 2009, the European Commission cleared at Phase I, subject to remedies, the acquisition of Zentiva, a generics company active in Central and Eastern Europe, by French pharmaceutical company Sanofi-Aventis.

The Commission investigated the effects of the transaction in over 100... More

29 | 01 | 2009

Conseil de la concurrence fines incumbent press distributors in France for anti-competitive rebate scheme

On 27 January, the French Conseil de la concurrence issued a decision to fine the incumbent press distributors in France - Nouvelles Messageries de Presse Parisienne (NMPP) and Société Auxiliaire pour l'Exploitation des Messageries Transports Presse (TP) - for offering loyalty rebat... More

09 | 01 | 2009

CRA to hold energy workshop on 12 February in Brussels

CRA will host a workshop on Competition Policy in the European Energy Sector on 12 February at the Conrad Hotel in Brussels. The workshop will review recent competition developments in the energy industry, focusing on the economic aspects of the current debate on how to best protect and enhance ... More

18 | 12 | 2008

South African Competition Commission gives go-ahead to Vodacom acquisitions

In reports dated 10 and 11 December 2008, the South African Competition Commission informed Vodacom that it has recommended unconditional approval of Vodacom's proposed large merger with Storage Technology Services ("StorTech") and has unconditionally approved Vodacom's proposed medium merger wit... More

04 | 12 | 2008

CRA's 6th Annual Competition Conference held in Brussels

CRA held its 6th annual conference on Economic Developments in European Competition Policy in Brussels on 3 December. Nearly 400 participants attended the event, which was opened by Philip Lowe, Director General of DG Competition.

The conference covered a range of topics in European compe... More

01 | 11 | 2008

Commission clears Sappi's acquisition of M-real's graphic paper business without conditions

The European Commission has approved the acquisition by paper manufacturer Sappi of M-real's graphic paper business. The parties' activities overlap mainly in the production of wood-free coated paper, used in high-quality commercial printing. Within the EEA, Sappi and M-real are currently the n... More

31 | 10 | 2008

OFT clears Lloyds TSB's acquisition of HBOS

CRA International was retained by Lloyds TSB in its merger with fellow UK bank HBOS. The transaction was unusual in the sense that Lloyds TSB was encouraged by the UK government to merge with HBOS in light of the latter's financial vulnerability following the crisis in global financial markets. L... More

23 | 10 | 2008

Commission closes Art. 81 investigation against Fresh Del Monte regarding supply of bananas

The European Commission has announced that it has closed its investigation of various subsidiaries of Fresh Del Monte Produce, Inc. in relation to information sharing practices regarding the supply of bananas in Northern Europe. The Commission has also announced fines for two other banana import... More

21 | 10 | 2008

CRA's Annual Brussels Conference to take place on 3 December

CRA's annual competition conference will take place in Brussels on Wednesday 3 December. The conference will cover a range of topics in European competition policy, including Article 82, the analysis of vertical cartels, and proposed changes to the vertical restraints guidelines. Confirmed spea... More

20 | 10 | 2008

UK OFT clears Co-Op acquisition of Somerfield

The OFT has cleared the acquisition by Co-Operative Group Limited (Co-Op) of Somerfield, subject to the divestment of stores in 126 local areas. The OFT accepted that the merger would not give rise to any competition concerns in the grocery sector at the national level. However, the OFT was con... More

22 | 09 | 2008

CRA publishes report on competition policy towards vertical restraints in the luxury goods industry

Dr Andrea Coscelli and Dr Thomas Buettner of CRA International alongside their co-authors Dr Thibaud Verge' of CREST in Paris and Professor Ralph A. Winter of the University of British ... More

17 | 09 | 2008

CRA helps Olympic Airlines obtain approval to go private

On 17 September 2008, the European Commission approved a plan to privatise Greece's state-owned flagship carrier Olympic Airlines, as well as the separate ground-handling company Olympic Airways Services.

A key feature of the Commission's decision, important for future cases, is the concl... More

08 | 08 | 2008

BAGS lost its High Court bid to stop AMRAC supplying bookmakers with horse racing images from 31 UK racecourses

On August 8, Justice Hugh Morgan ruled that 31 UK racecourses' exclusive selling of their media rights to AMRAC (part-owned by the racecourses) did not infringe competition law, dismissing claims to this effect by BAGS, a betting industry representative body. Justice Morgan also dismissed AMRAC'... More

31 | 07 | 2008

EC clears INEOS acquisition of BASF acrylonitrile plant.

The European Commission has unconditionally cleared the acquisition of BASF's Seal Sands acrylonitrile (ACN) production facility by Ineos Nitriles after a Phase I investigation.

Ineos Nitriles is a major producer of ACN, both to external customers and its own downstream businesses. The ... More

18 | 07 | 2008

EC clears acquisition by Pernod Ricard of V&S, subject to conditions, after a Phase I investigation

The European Commission has cleared at Phase 1, subject to remedies, the acquisition by French wine and spirits company Pernod Ricard of Swedish alcohol producer Vin & Spirit (V&S). V&S is the maker of Absolut vodka, the world's third-largest premium liquor in terms of volume.

The Commiss... More

02 | 07 | 2008

EC clears acquisition by BAT of cigarette business of STK, subject to conditions, after a Phase I investigation

The European Commission has cleared at Phase I, subject to remedies, the acquisition by UK tobacco company British American Tobacco (BAT) of the cigarette business and certain related interests of Skandinavisk Tobakskompagni (STK), a Danish company. The deal means BAT acquires House of Prince (o... More

01 | 07 | 2008

EC clears acquisition of Huntsman by Hexion, subject to conditions, after a Phase I investigation

The European Commission has approved at Phase I, subject to remedies, the proposed acquisition of Huntsman Corporation by Hexion Specialty Chemicals Inc., both US-based chemical manufacturers with products portfolios that include epoxy resins. The activities of Hexion and Huntsman overlap at all... More

15 | 05 | 2008

OFT Closes its Chapter II Investigation into Allegations of Anticompetitive Behaviour by P&G

After an extensive review, in May 2008 the Office of Fair Trading (OFT) closed its Chapter II investigation into allegations of predatory pricing and other anti-competitive behaviour by Procter & Gamble Pharmaceuticals (P&G) in the supply of Asacol, a mesalazine 400mg drug, in the UK. Based on a... More

14 | 05 | 2008

EC clears TomTom's proposed acquisition of Tele Atlas

Following an in-depth phase II investigation the European Commission has approved without remedies the proposed acquisition of Tele Atlas by TomTom, both of the Netherlands. Tele Atlas is a provider of navigable digital maps and TomTom produces portable navigation devices (PNDs - often known as s... More

13 | 05 | 2008

FSA/OFT Recognise ICE Clear

ICE Clear Europe Ltd (ICE Clear) has been successful in its application to the Financial Services Authority (FSA) to become a Recognised Clearing House for the purposes of the Financial Services and Markets Act 2000 (FSMA). Under the FSMA the OFT is required to report to the FSA, the Competition... More

13 | 05 | 2008

Thibaud Vergé joins CRA`s French practice

Dr. Thibaud Vergé has joined CRA's European Competition Practice in France as an academic associate. Dr. Vergé is a Research Fellow at CREST (Center for Research in Economics and Statistics), and a lecturer in Economics at ENSAE and Ecole Polytechnique. He holds an MA in Engineeri... More

13 | 05 | 2008

Response to Ofcom's Consultation Document on Pay TV in the UK

BSkyB's response to the Consultation Document of December 2007 on the pay TV market in the UK has been published by Ofcom. This includes a submission prepared by CRA which reviews the analysis and arguments in Ofcom's document on the potential "short term" and "long term" consequences of vertical... More

07 | 05 | 2008

UK OFT accepts undertakings in Berkshire newspaper merger

The OFT has cleared the completed asset acquisition by Dunfermline Press Limited (DPL) of the Berkshire regional newspapers (BRN) business from Trinity Mirror plc subject to divestments. Pre-merger the parties overlapped in the publication of weekly local newspapers and the provision of advertis... More

29 | 04 | 2008

EC clears Oracle's acquisition of BEA Systems in Phase I

On 29 April 2008, the European Commission approved the acquisition of BEA Systems, a provider of middleware software, by Oracle Corporation. The Commission examined the potential effects of the merger on the overall middleware software segment and various sub-segments (namely application servers... More

21 | 04 | 2008

EC clears acquisition of Vedior by Randstad, subject to conditions, after a Phase I investigation

The European Commission has cleared Randstad's acquisition of Vedior in Phase I, subject to divestments in Portugal.

Both parties supply temporary employment services in many European countries. The Commission's investigation ruled out competition concerns in all relevant countries with th... More

15 | 04 | 2008

UK OFT clears Home Retail Group acquisition of Focus stores

The OFT has cleared the acquisition by Home Retail Group (which owns the Homebase chain of DIY stores) of 27 Focus stores, subject to the divestment of a store in one of the 12 overlap areas identified. While accepting that the deal raised no antitrust concerns at the national level, the OFT was... More

28 | 03 | 2008

UK OFT clears acquisition by Seawell of Noble UK

Both companies are providers of contract platform drilling, engineering and well intervention services to the offshore oil and gas industry. The OFT was concerned about the impact of the transaction on the supply of skilled manpower deployed in the provision of contract drilling services on offs... More

04 | 03 | 2008

EC clears acquisition of Maxit by Saint-Gobain, subject to conditions, after a Phase I investigation

The European Commission has cleared Saint-Gobain's acquisition of the Maxit Group in Phase I, subject to divestments.

Both parties are active in the manufacture of mortars and gypsum-related products and in the sale of external insulation systems (ETICS) in many European countries. Saint-G... More

25 | 02 | 2008

Conseil de la concurrence accepts commitments in the French newspapers distribution sector

On 25 February, the French Conseil de la Concurrence accepted commitments from Nouvelles Messageries de Presse Parisienne (NMMP), the incumbent newspaper distributor in France, relating to its 'Presse 2000' computer system. NMMP created and set up the Presse 2000 system at wholesale press agents... More

19 | 02 | 2008

EC clears the acquisition of Reuters by Thomson, subject to conditions, after a Phase II investigation

The European Commission has cleared Thomson Corporation's acquisition of the Reuters Group after a Phase II investigation, subject to commitments.

Both parties to the transaction are suppliers of real-time and historical financial information and desktop products for financial professional... More

30 | 01 | 2008

EC clears INEOS's acquisition of Kerling, following a Phase II investigation

The European Commission has unconditionally cleared the acquisition of Kerling ASA of Norway by the UK-based chemicals company INEOS following a phase II investigation. Both parties are active in the production, marketing and sale of polyvinyl chloride (PVC) and caustic soda. The Commission was ... More

23 | 01 | 2008

EC clears acquisition of Cumerio by Norddeutsche Affinerie following a phase II investigation.

On 23 January the European Commission cleared unconditionally the proposed acquisition of Cumerio SA of Belgium by Norddeutsche Affinerie AG (NA) of Germany following a phase II investigation. Both parties were involved in the production of copper cathodes, copper rod and copper shapes, which ar... More

07 | 01 | 2008

EC clears JV between INEOS Silicas and PQ Corporation

The European Commission has cleared unconditionally a JV between INEOS Silicas (part of the INEOS group) and the PQ Corporation (owned by The Carlyle Group) after a Phase 1 investigation. The main overlaps were in respect to sodium silicate and certain derivatives (such as silica gels for polyol... More

17 | 12 | 2007

CRA held 5th Annual Conference in Brussels

CRA held its 5th Annual Conference on Economic Developments in European Competition Policy in Brussels on December 13th.

The conference was opened by Damien Neven, Chief Economist at DG Competition and topics discussed included:

Oligopolies - Developments and Recent Analyses - More

03 | 12 | 2007

Edward Droste joins CRA`s Competition Practice in Amsterdam

[url=/staff/droste_e.xml]Dr Edward Droste has joined CRA's European Competition practice. Dr Droste has extensive experience in the economics of competition, regulation, competitive strategy and government policy on market design. He has worked in the areas of competition and regulation in... More

09 | 11 | 2007

EC clears Kraft's acquisition of Danone Biscuits in Phase I

On 9 November 2007, the European Commission approved the acquisition of Danone Biscuits - Danone's worldwide biscuits, snacks and cereals business - by the US-based company Kraft Foods Inc., subject to commitments. The Commission found that the transaction would affect only a limited number of M... More

08 | 11 | 2007

South African Competition Tribunal approves Naspers acquisition

The South African Competition Tribunal has unconditionally approved a transaction in which media company Naspers will purchase Johnnic Communication's 38% stake in pay television platforms M-Net and SuperSport. The acquisition will give Naspers full ownership of the pay television company. Other ... More

31 | 10 | 2007

EC clears merger in private label ready-to-eat cereal industry

The European Commission has cleared the acquisition by One Equity Partners (OEP) and MSP Stiftung of joint control over Dailycer Group and De-Vau-Ge Gesundkostwerk GmbH (DVG), producers of ready-to-eat cereals and cereal bars mainly sold under retailers' own labels. The Commission found that the... More

26 | 10 | 2007

EC clear proposed acquisition of Saint-Gobain Vetrotex by Owens Corning, subject to conditions

On 26 October, the European Commission cleared the proposed acquisition of Saint-Gobain Vetrotex by Owens Corning in Phase I, subject to divestments of European plants. Both companies are large worldwide manufacturers of glass fibre reinforcement and composite fabrics products. The Commission fo... More

22 | 10 | 2007

EC clear proposed acquisition of Altadis by Imperial Tobacco, subject to conditions

On 18 October, the European Commission cleared the proposed acquisition of Altadis by Imperial Tobacco at Phase I, subject to divestment of a number of Imperial's brands in certain national markets. These brands include roll-your-own tobacco in France, Italy, Portugal and Spain, pipe tobacco in F... More

21 | 09 | 2007

Fertilizer merger cleared by European Commission at Phase I

The European Commission has cleared the acquisition of Kemira GrowHow by Yara at Phase I, subject to commitments in relation to certain industrial chemical products and fertilizer distribution activities. Yara and Kemira GrowHow are Europe's two largest nitrogen-based fertilizer manufacturers. ... More

17 | 09 | 2007

Court of First Instance upholds the Commission's decision on Microsoft's abuse of dominant market position

On 17 September 2007, the Court of First Instance dismissed Microsoft's Appeal of the European Commission Decision of 24 March 2004, which required Microsoft to bring to an end their behaviour in breach of Art. 82, on all points related to the substance of the abuse. Inter alia, the EC Decision ... More

10 | 09 | 2007

Laurent Flochel joins CRA and establishes French office

Professor Laurent Flochel has joined CRA's European Competition Practice as a full time consultant, while on long-term leave from his post as Professor at the University of Lyon. Professor Flochel has acted as an economic expert in a number of recent high-profile cases in front of the French anti... More

06 | 09 | 2007

European Commission clears paper tissue merger at Phase I

The European Commission has approved the acquisition of Procter & Gamble's European consumer tissue business by Svenska Cellulosa Aktiebolaget (SCA) at Phase I. Both companies produce branded and private label paper hankies, kitchen towels and toilet paper. Although the merger leads to high mar... More

23 | 08 | 2007

Bank Price Controls lifted

The UK Competition Commission (CC) has provisionally decided to release the UK's four largest clearing banks from the price controls imposed in relation to banking services to small and medium-sized enterprises (SMEs) in 2002. This follows a detailed examination by the Office of Fair Trading (OFT... More

08 | 08 | 2007

The Office of Fair Trading approves Macquarie's acquisition of Airwave Safety Communications Limited

The OFT has unconditionally cleared the completed acquisition by Macquarie Infrastructure Fund II and Macquarie Communications Infrastructure Group of Airwave Safety Communications Limited. Dr Andrea Coscelli of CRA International provided economic advice to the Macquarie Funds throughout the OF... More

02 | 08 | 2007

South African Competition Tribunal approves Netcare's acquisition of Community Hospital Group

The South African Competition Tribunal announced on 2 August 2007 that it had approved the merger of Netcare and Community Hospital Group (CHG). Netcare is one of the three major private hospital groups in South Africa. CHG is a small chain with hospitals in the Gauteng and Western Cape provinc... More

28 | 06 | 2007

European Commission prohibits Ryanair's proposed acquisition of Aer Lingus

The European Commission has prohibited Ryanair's takeover of Aer Lingus. The transaction would have lead to the creation of a dominant airline in Ireland, with a monopoly position on 22 routes, and more than 80% on traffic on a total of 35 overlap routes. The parties would have also held in exces... More

22 | 06 | 2007

Telecoms - Hot Topics in Antitrust Enforcement

CRA held its first European Telecoms: Hot Topics in Antitrust Enforcement oriented conference in Brussels on June 19th.

The conference was introduced by Richard Feasey of Vodafone and topics discussed included:

Protecting Competition in the European Telecommunications Industry -... More

29 | 05 | 2007

European Commission clears tyre merger at phase I

The European Commission has unconditionally cleared the acquisition of Bandag by Bridgestone without requiring phase II investigation. In Europe, Bridgestone predominantly supplies new tyres to car manufacturers and tyre dealers and also has activities in the truck tyre re-treading sector. Banda... More

04 | 05 | 2007

European Commission clears travel merger at Phase I

The European Commission has unconditionally cleared the combination of two major UK tour operators, MyTravel and Thomas Cook, without launching a phase II investigation. Although the deal reduced the number of major vertically integrated tour operators in the UK from four to three, the Commissio... More

03 | 04 | 2007

The Commission clears in Phase I two acquisitions in the sector of aluminium castings for the automotive industry

The European Commission has unconditionally cleared two acquisitions by Nemak in the sector of aluminium castings for the auto industry (in particular, cylinder heads and engine blocks). In two separate transactions, Nemak acquired Hydro's aluminium casting business and a carve out of Teksid's p... More

20 | 03 | 2007

Antitrust Enforcement in the Pharmaceutical Industry Seminars

CRA held two evening seminars on 19th and 20th March on the subject of "Antitrust Enforcement in the Pharmaceutical Industry". These seminars were held in London on 19th at Le Meridien, Piccadilly and in Brussels on 20th at the Hotel Conrad, Avenue Louise. See invites and presentations for f... More

05 | 03 | 2007

Portuguese Competition Authority clears large banking merger

The Portuguese Competition Authority has cleared (with conditions) Millennium BCP's acquisition of rival Banco BPI - both large full-service financial institutions in Portugal, active across most segments of the corporate, SME and retail banking markets as well as in the provision of related fina... More

14 | 02 | 2007

The OFT clears the acquisition by Arqiva Ltd of BT's satellite broadcast services business (BT SBS)

The OFT has unconditionally cleared the anticipated acquisition of BT SBS by Arqiva Ltd. The Parties overlap in the supply to broadcasters of satellite distribution services for television broadcasting to UK viewers. Andrea Coscelli and Vicki Mertzanidou of CRA International advised Arqiva throu... More

14 | 02 | 2007

Giulio Federico, Diana Jackson and Rainer Nitsche promoted to Vice President

Giulio Federico (in Barcelona and London), Diana Jackson (in London) and Rainer Nitsche (in Brussels) have been promoted to Vice President positions in CRA International's European Competition Practice.

Giulio Federico completed his DPhil at Oxford University, and joined Lexecon... More

24 | 01 | 2007

Commission asks FTA and cable broadcasters in Italy to repay the unlawful digital decoder subsidies they received

The European Commission has concluded that the subsidies for digital decoders in Italy were not technologically-neutral and has therefore asked the FTA and cable operators that benefited from them to repay them. Dr Andrea Coscelli provided economic advice to Sky Italia who complained to the Euro... More

22 | 12 | 2006

Portuguese Competition Authority clears Sonaecom's takeover of PT

The Portuguese Competition Authority has cleared Sonaecom's acquisition of Portugal Telecom (PT) subject to conditions. The transaction would lead to the merger of the two of the three mobile network operators in Portugal, and would also affect the broader telecommunications market (including fix... More

21 | 12 | 2006

UK Competition Commission publishes final report on classified directory advertising services

The CC has published its final report on the supply of classified directory advertising services. The CC has concluded that the price control on Yell's Yellow Pages directories in the UK should be amended from the current level of RPI-6% to RPI-0% after 31 March 2008. The CC has recommended tha... More

18 | 12 | 2006

UK Competition Commission clears Pan Fish/Marine Harvest merger unconditionally

The UK Competition Commission (CC) has cleared the merger of Pan Fish and Marine Harvest without conditions. The merger, involving two firms active in the supply of farmed Atlantic salmon, was referred to the CC on 6 July 2006. CRA International's London and Brussels offices provided economic ad... More

05 | 12 | 2006

CRA holds its Annual Conference on "Economic Developments in European Competition Policy"

On 5 December 2006, CRA held its annual conference on the economics of competition policy at the Conrad Hotel in Brussels. About 350 delegates attended the event where a number of distinguished speakers discussed recent developments in the use of economics in competition policy. Speakers includ... More

21 | 11 | 2006

European Commission clears UCB's acquisition of Schwarz

The European Commission has cleared the acquisition of Schwarz Pharma by UCB. While both companies are active in the research, development and commercialisation of pharmaceutical products, the Commission accepted that there were only a few markets in which both parties competed. Moreover, withi... More

18 | 08 | 2006

Commission clears Sea-Invest's purchase of an interest in EMO-EKOM after Phase II investigation

The European Commission today announced its unconditional clearance of the purchase by Sea-Invest N.V. of a stake in EMO B.V. and EKOM B.V. ("EMO-EKOM"), which will give Sea-Invest joint control over EMO-EKOM for the purposes of the EC Merger Regulation. EMO-EKOM owns and operates Europe's larg... More

15 | 08 | 2006

South African Competition Tribunal unconditionally approves merger of Kumba Resources and Eyesizwe Coal

The Competition Tribunal in South Africa has unconditionally approved a set of transactions known as Project Pangolin involving the restructuring of Kumba Resources, a mining company in South Africa in which Anglo American held a controlling interest. One part of Project Pangolin will involve a ... More

10 | 08 | 2006

European Commission clears the acquisition by Ineos of BP`s Dormagen business without remedies after Phase II investigation

Following an in depth investigation, the European Commission has cleared the acquisition of BP's Ethylene Oxide and Glycols Business in Dormagen (Germany) without conditions. The transaction concludes Ineos' acquisition of BP's olefin and refining subsidiary Innovene. The main part of the deal ... More

08 | 08 | 2006

South African Competition Commission approves healthcare acquisitions

The South African Competition Commission has approved the acquisitions by Lethimvula of Medscheme and Rowan Angel. Lethimvula is a healthcare investment company that was previously known as Netpartner. Medscheme and Rowan Angel are medical scheme administrators. The transactions were approved sub... More

24 | 07 | 2006

European Commission approves the proposed merger between Alcatel and Lucent Technologies

The European Commission has cleared the merger between Alcatel and Lucent Technologies after a Phase I investigation. The two companies supply telecommunications equipment and related services to operators of communications networks, including service providers, governments and enterprises worldw... More

20 | 07 | 2006

Professor Neven named Chief Economist of DG Competition

Professor Damien Neven, who has been an academic associate of CRA International (previously Lexecon Ltd) since the mid-nineties and collaborated with our teams on a number of landmark cases (such as Airtours and Tetra Laval-Sidel) has been named Chief Economist of DG Competition at the European C... More

04 | 07 | 2006

European Commission approves the acquisition of Falconbridge by Inco

Following an in-depth investigation, the European Commission has cleared the acquisition of Falconbridge by Inco, subject to divestments. Both companies are active in the mining, processing and refining of nickel and other metals. The merger was also investigated by the DOJ (and approved subject... More

29 | 06 | 2006

German Federal Cartel Office approves the acquisition of Alstom's Industrial Boilers and Plants business by VonRoll Inova

CRA International was retained by VonRoll Inova, a leading provider of engineering and construction services for waste-to-energy plants, to assist it in its acquisition of Alstom's Industrial Boilers and Plants (IBP) business in Germany and Austria. The merger had to be notified to the German Fed... More

06 | 06 | 2006

Commission approves the acquisition of BOC plc by Linde AG

The European Commission has cleared the acquisition by Linde AG of BOC plc after a first-phase investigation, subject to divestments. Linde and BOC are both active in the supply of industrial gases, and the combined entity will be one of the leading suppliers worldwide in this field. A team from... More

29 | 05 | 2006

Commission approves takeover of Akzo's resins business by Hexion

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the inks and adhesive resins business of Akzo Nobel of The Netherlands by the US undertaking Hexion, controlled by the Apollo Group. The main impact of the transaction is on resins used for the printing... More

19 | 05 | 2006

European Commission clears takeover of Gemplus by Axalto

The European Commission has approved (with commitments) the planned acquisition by Axalto of Gemplus. Both companies produce and sell worldwide smart cards used for mobile phones, payments and identification, and related products and services. CRA International provided economic advice to both pa... More

12 | 05 | 2006

European Commission approves Korsnäs` acquisition of Assidomän Cartonboard without conditions (for Korsnäs)

The European Commission has approved without conditions the proposed acquisition by Korsnäs of Assidomän Cartonboard, Europe's second and third largest producers of Liquid Packaging Board (LPB). LPB is used in the production of cartons for the packaging of products such as milk and juice... More

10 | 05 | 2006

The CAT upholds the OFT's clearance of the Boots/Unichem merger

The CAT has unanimously dismissed Celesio's appeal against the OFT's decision to clear the merger between Boots and Unichem subject to divestments. CRA was retained by Boots during the appeal, and advised Boots during the OFT investigation. The appeal focused on whether the OFT was correct in ... More

26 | 04 | 2006

Acquisition of Tele.ring by T-Mobile cleared (with commitments) by the European Commission

The European Commission and the Austrian telecom regulator TKK have cleared the acquisition of the Austrian mobile phone operator tele.ring by T-Mobile Austria. CRA International provided economic advice to T-Mobile throughout the merger. After the merger T-Mobile Austria will remain the second l... More

13 | 03 | 2006

The acquisition of the Topvar brewery by SAB Miller is unconditionally approved by the Slovakian Antimonopoly office (AMO)

The acquisition of regional brewery Topvar by SAB Miller was cleared without conditions by the Slovakian Antimonopoly office (AMO) following a nine-months long investigation. CRA International provided economic advice to SABMiller throughout the enquiry. Issues raised by the transaction include... More

13 | 03 | 2006

European Commission publishes CRA Report on methods to analyse the impact of State aid on competition

At least since the launch of the State Aid Action Plan (SAAP) by EU Competition Commissioner Neelie Kroes in 2005, it is clear that State aid control in Europe will be subject to significant change. As in other areas of competition policy, the European Commission, with support from Professor Lars... More

07 | 02 | 2006

The OFT does not refer the acquisition of Boots by Alliance Unichem

The anticipated acquisition of Alliance Unichem plc by Boots plc has been cleared at the OFT stage provided that satisfactory divestment undertakings can be agreed. CRA was retained by Boots plc during the course of the OFT investigation. The merger raised issues at both the horizontal and vertic... More

31 | 01 | 2006

South African Competition Appeal Court Orders Approval of Medicross - Prime Cure Transaction

South Africa's Competition Appeal Court has overturned the Competition Tribunal's prohibition of the merger between Medicross and Prime Cure, two firms in the primary-care sector of the South African healthcare industry. Robert Stillman of CRA International was the economic expert for the mergin... More

24 | 01 | 2006

European Commission approves the merger of Adidas and Reebok

The European Commission has announced that the Adidas/Reebok merger has been cleared in Phase One. CRA International was retained by both parties in this transaction and undertook a range of work for the merging parties, including a variety of econometric analyses. These analyses assessed the po... More

10 | 01 | 2006

European Commission approves the acquisition of O2 by Telefonica

At the end of its Phase I investigation, the European Commission has cleared the proposed acquisition of UK telecommunications company O2 by the Spanish telecommunications company Telefónica. The Commission was concerned that the acquisition would result in distortions of competition in the... More

22 | 12 | 2005

Commission clears Oracle acquisition of Siebel

The European Commission has given Phase I clearance to Oracle Corporation's acquisition of Siebel Systems, a leading supplier of Customer Relationship Management (CRM) software. A team from CRA International's London office assisted Oracle with the European merger control aspects of the transact... More

21 | 12 | 2005

Commission clears the acquisition of MOL's gas distribution business by E.ON Ruhrgas

After a Phase II investigation, the European Commission cleared (subject to undertakings and obligations) the acquisition of MOL's gas business by E.ON Ruhrgas. CRA provided economic advice to MOL Hungarian Oil and Gas during the EU investigation.

See ... More

11 | 11 | 2005

Portuguese Competition Authority approves acquisition of two wind power plants by EDP (Energias de Portugal)

The acquisition by EDP's fully owned subsidiary Enernova of the two wind farms Ortiga and Safra was cleared by the Portuguese Competition Authority following in-depth investigation started in June 2005. The Authority cleared the merger with an undertaking by the parties not to make strategic use ... More

09 | 11 | 2005

Commission approves acquisition of BPB by Compagnie de Saint-Gobain

The proposed acquisition of British Plaster Board (BPB) by Saint-Gobain (SG) was unconditionally approved by the EU Commission in Phase I. BPB and SG are both active in the production of construction materials (BPB produces plaster-based products but is also active in foam insulation products, S... More

13 | 10 | 2005

European Commission approves the acquisition of Salomon by Amer

At the end of a phase 1 investigation, the European Commission has approved the acquisition of the Salomon part of the adidas-Salomon Group by Amer, the Finnish sports hard-goods manufacturer. During this investigation the Commission examined whether the transaction would reduce competition in a... More

06 | 09 | 2005

CC clears Francisco Partners/G International deal

The UK Competition Commission (CC) has unconditionally cleared the completed acquisition of G International by the technology investment firm Francisco Partners. G International is IBM's former electronic data interchange (EDI) business, which will now be integrated with Global eXchange Services... More

02 | 08 | 2005

OFT conditionally clears William Hill's acquisition of the licensed betting office business of Stanley plc

The OFT has decided not to refer the acquisition by William Hill of the licensed betting office business of Stanley plc to the Competition Commission. The OFT's decision was subject to suitable undertakings being agreed with William Hill to dispose shops in areas of local overlap between the part... More

22 | 07 | 2005

European Commission clears Procter & Gamble's proposed acquisition of Gillette

The European Commission has cleared Procter & Gamble's proposed acquisition of Gillette. The merger would create the world's largest consumer goods company with a combined turnover of 50 billion euros. The European Commission considered that the merger would only create competition concerns in ... More

05 | 07 | 2005

Appeal against EDP-ENI/GDP prohibition heard by the CFI

The CFI has held an Oral Hearing of EDP's (Energias de Portugal) appeal against the decision issued by the European Commission last December, prohibiting its joint acquisition (with ENI of Italy) of GALP's subsidiary GDP (Gas de Portugal). This was the first merger to be prohibited by the Europea... More

28 | 06 | 2005

GUS aquisition of Index stores cleared by the OFT

The OFT has cleared GUS plc's aquisition of part of the Index catalogue store chain formerly owned by Littlewoods, which GUS intends to integrate into its existing Argos cataologue retailing business. We assisted GUS in responding to potential concerns over the competition implications of the tra... More

24 | 06 | 2005

Ofgem closes probe into UK gas prices

UK energy regulator Ofgem has decided to close its investigation into the contractual arrangements between gas producers and gas purchasers for certain North Sea gas fields. In the wake of high gas prices last year, Ofgem was concerned such arrangements might have prevented gas that was physicall... More

16 | 06 | 2005

CRA International Completes Acquisition of the Former Lexecon Ltd Business

The company that has been known in Europe as Lexecon Ltd for the past fifteen years has now been acquired by CRA International. The transaction, which completed on June 16th, brings together a leading global provider of competition and litigation advice with the established position and profile o... More

24 | 05 | 2005

EU approves Reuters acquisition of Telerate in Phase 1

The European Commission conditionally cleared Reuters acquisition of Telerate at the end of May after a phase 1 investigation. The markets affected by the transaction were the supply of real-time market data (RMD) and financial market data platforms - MDPs enable customers to integrate and distri... More

18 | 05 | 2005

CRA merges with Lexecon

CRA International, Inc. (NASDAQ: CRAI), a globally known leader in providing economic, financial, and management consulting services, today announced that its U.K. subsidiary intends to acquire Lexecon Ltd in a cash and restricted stock transaction. CRA expects the ... More

10 | 05 | 2005

South African Competition Tribunal approves Harmony's acquisition of Gold Fields

Harmony's hostile bid for Gold Fields would potentially have combined two of South Africa's largest gold producers. We assisted Harmony with rebutting the competition arguments put forward by Gold Fields, which related primarily to the effects of the proposed transaction on suppliers to the gold... More

26 | 04 | 2005

Professor Mark Armstrong joins as an Academic Associate

We are pleased to announce that Professor Mark Armstrong has become an Academic Associate. Professor Armstrong, from University College London, is a specialist in applied industrial and regulatory economics and an acknowledged expert in telecommunications.

Professor Armstrong is the author... More

29 | 03 | 2005

South African Competition Tribunal approves Ellerines' acquisition of Relyant

The merger combines two of the five firms in South Africa that operate national chains of retail furniture stores. We assisted the merging parties on issues of market definition and competitive effects through written submissions and presentations to the Competition Commission. The Tribunal's u... More

15 | 03 | 2005

Competition Commission clears the acquisition by Napier Brown Foods Plc of James Budgett Sugars Ltd

The acquisition brings together the two largest non-refining resellers of sugar to industrial customers in the UK. We assisted Napier Brown in dispelling concerns voiced by the OFT that the transaction might lead to a significant lessening of competition in the UK industrial sugar market. Throu... More

01 | 03 | 2005

Professor Frank Verboven joins as an Academic Associate

We are happy to announce that Professor Frank Verboven is an Academic Associate as of 1 March 2005. Professor Verboven, from the Catholic University of Leuven, is a specialist in applied industrial economics and an editor of the Journal of Industrial Economics. He is currently part of the Econom... More

22 | 12 | 2004

Court of First Instance rejects Microsoft's application for Interim Relief

We assisted the Computer & Communications Industry Association (CCIA) and their counsel with economic advice on interoperability issues in their submissions as intervener in support of the European Commission in the Interim Relief proceedings brought by Microsoft for suspension of the EC Decision... More

22 | 12 | 2004

GWR Group Plc merger with Capital Radio Plc

We assisted GWR Group Plc throughout the investigation by the Office of Fair Trading of its merger with Capital Radio Plc. The OFT decided on 22 December 2004 not to refer the merger to the Competition Commission provided that satisfactory undertakings are given to address competition concerns ... More

22 | 12 | 2004

Dutch Slaughterhouse merger cleared in Phase 1

The European Commission cleared Sovion's acquisition of Hendrix Meat Group on 22nd December 2004 after a phase 1 investigation. The affected markets concerned the slaughter of pigs, sales of fresh and processed meat and the disposal of abattoir by-products. We provided economic advice to the pa... More

20 | 12 | 2004

South African Supreme Court of Appeal Cites Study in Setting Aside Regulations on Pharmacy Dispensing Fees

The South African Supreme Court of Appeal (the second highest court in the country) today set aside regulations on pharmacy dispensing fees that had been recently promulgated by the South African Department of Health. In reaching this decision, the presiding judge emphasized an expert report su... More

29 | 11 | 2004

Italian telecoms regulator rules on pricing of premium content by Sky Italia

We assisted satellite operator Sky Italia throughout the investigation by AGCOM (the Italian telecoms and media regulator), into the wholesale pricing of its premium contents to third parties. The detailed cost model we developed for Sky Italia was at the heart of the dispute on wholesale charges... More

29 | 10 | 2004

EU Commission approves Continental AG's acquisition of Phoenix AG

We assisted Continental AG throughout the Phase II investigation by DG Competition, developing an economic model of competition for development and supply contracts of air springs used in commercial vehicles. For more information see the More

26 | 10 | 2004

Commission clears Oracle`s takeover bid for PeopleSoft

The European Commission today gave unconditional clearance to the proposed takeover by Oracle Corporation of the software vendor PeopleSoft. We provided economic assistance to Oracle throughout the Commission's investigation. For more information see ... More

21 | 10 | 2004

CC clears DS Smith/LINPAC merger

The Competition Commission has cleared the acquisition of LINPAC Containers Ltd by DS Smith Plc. The Commission examined, in particular, the likely effects of the merger on the market for the supply of corrugated cardboard sheet. It concluded that the transaction would not increase the likelihood... More

27 | 09 | 2004

Hong Kong Broadcasting Authority investigation into sports rights concluded

We have assisted the Hong Kong Broadcasting Authority decide whether a long-term agreement for the purchase of sports rights between two competing free-to-air broadcasters in HK breached competition law. For more information see the BA's pre... More

22 | 09 | 2004

CC clears Archant/INM deal

The Competition Commission has cleared unconditionally Archant`s acquisition of the local newspapers owned by INM in the London area. We have provided economic advice to Archant Ltd both in front of the Office of Fair Trading and throughout the Competition Commission inquiry. For more informatio... More

07 | 07 | 2004

Conditional EU clearance gained for Alstom State Aid package.

In September 2003, France granted a State Aid package to rescue Alstom and assist the group's restructuring effort. The EU Commission examined the amount and format of the State Aid package and formally decided today to approve the restructuring package subject to compensatory measures. Working w... More

27 | 05 | 2004

Economic evidence presented in GE/Honeywell appeal to CFI

Matthias Pflanz presented economic evidence on behalf of General Electric to the Court of First Instance in Luxembourg, at the hearing on GE's appeal against the European Commission's 2001 decision in GE/Hon... More

19 | 05 | 2004

Seminar on the economics of the Microsoft case

We organised a seminar on the Microsoft case at the Conrad Hotel in Brussels. Amongst the speakers were members of our team who acted for Sun Microsystem during the 5-year long European investigation, senior lawyers of Sun's legal team and members of the European Commission team managing the case... More

01 | 04 | 2004

Economic evidence presented for Oracle in Oracle/PeopleSoft oral hearing

Bill Bishop and Matthias Pflanz made economic presentations on behalf of Oracle at the European Commission's oral hearing in the Oracle/PeopleSoft merger. They presented on the economics of non-coordinated and coordinated effects in human resources management software and financial management so... More

24 | 03 | 2004

Economic analyses support European Commission`s decision on Microsoft

We supported Sun Microsystems, a major complainant against Microsoft, with economic analysis through the EU investigation which led to the landmark infringement decision. Microsoft was fined half a billion Euros for abuse of its dominant position and abusive practices in the server and media play... More

06 | 02 | 2004

Altech achieves clearance of its acquistion of NamITech in South Africa

The South African Competition Tribunal has cleared the sale of NamITech to Altech, both active in the manufacture of secure magnetic stripe cards for sale to South Africa's banks. This gives Altech access to NamITech's expertise and production facilities for "smart" banking cards, and SIM cards f... More

22 | 12 | 2003

British American Tobacco achieves clearance for ETI acquisition

BAT's acquisition of ETI (Ente Tabacchi Italiano) from the Italian government, concluding the privatisation process of the latter's tobacco business, was notified last September to the European Commission and subsequently referred back to the Italian Competition Authority (AGCM). The purchase has... More

10 | 12 | 2003

Settlement reached by GlaxoSmithKline and South African competition authorities

We assisted GlaxoSmithKline (GSK) and submitted evidence to the South African Competition Authorities during an investigation into the pricing of anti-retroviral drugs in South Africa. The South African authorities were concerned that prices were excessive. The case is closed after the authoritie... More

03 | 12 | 2003

Mining sector merger cleared in Phase 1

The European Commission has cleared Anglo American's acquisition of Kumba Resources, a South African mining company. Horizontal overlaps with respect to Europe arose mainly in the mining of zircon and titanium dioxide feedstocks (used primarily in the pigment industry). We provided economic advic... More

04 | 11 | 2003

New Publication

In early November, we issued a new publication entitled "An Introduction to Quantitative Techniques in Competition Analysis". This publication draws on our extensive experience in applying empirical techniques to competition cases and is available free of charge from our London office or can be d... More

30 | 10 | 2003

Merger in the electricity sector cleared in Phase I

The Commission cleared in Phase I the merger of Sydkraft and Graninge, both active in the electricity sector in the Nordic market. We advised Sydkraft during the administrative procedure and met with Commission officials to discuss the economic issues raised by the merger. The market for electric... More

04 | 09 | 2003

South African Competition Tribunal approves Anglo American`s acquisition of Kumba Resources

The South African Competition Tribunal has approved Anglo American's application to acquire control of Kumba Resources, a leading firm in the iron ore industry in South Africa. We assisted Anglo American throughout the merger review process. One of the central issues in the case was the possibili... More

01 | 08 | 2003

Competition Commission publishes its advice in Centrica`s acquisition of Rough gas storage facility

The Competition Commission has published its report on Centrica's acquisition of the Rough gas storage facility, recommending clearance of the merger subject to the agreement of behavioural undertakin... More

29 | 07 | 2003

Academic publishing merger authorised in Phase I by the European Commission

The European Commission has cleared the merger of BertelsmannSpringer with Kluwer Academic Publishers (KAP). Both parties are active in the academic publishing sector, and in particular in STM (Science, Technology and Medical) publishing. During the Commission's merger control assessment of the t... More

18 | 06 | 2003

South African pharmaceutical manufacturers successfully defend their distribution system

The South African Competition Tribunal has dismissed an application for interim relief by nine pharmaceutical wholesalers, who claimed that the use by GSK, Pfizer and Aspen Pharmacare of their own agenc... More

11 | 04 | 2003

UK Competition Commission report into veterinary medicines is published

We provided economic advice to Pfizer Ltd during the UK Competition Commission's 15-month investigation into prescription-only veterinary medicines. The inquiry examined the entire supply chain for veterinary medicines in the UK, from manufacturers to veterinary surgeons. During its inquiry, the ... More

02 | 04 | 2003

Newscorp and Stream TV in gain Commission clearance for the merger of Stream and Telepiù

After a detailed Phase II investigation, the European Commission has cleared the proposed acquisition by Newscorp of Italian pay-television company Telepiù from Vivendi Universal. Telepiù will be merged with Stream, the other pay-TV company in Italy, thus creating a near-monopoly in I... More

28 | 03 | 2003

British American Tobacco rebuts concerns about participation in price fixing conspiracy on the the Italian cigarette market

After a two-year investigation, the Italian Competition Authority AGCM has fined Philip Morris and ETI (Ente Tabacchi Italiani) for "interfering with cigarette price competition and artificially maintaining market stability" between 1993 and 2001. The AGCM has however cleared British American Tob... More

26 | 03 | 2003

Pfizer Inc. achieves merger control clearances for Pharmacia acquisition

Pfizer Inc. has announced that the US Federal Trade Commission has completed its review of Pfizer's acquisition of Pharmacia, with formal approval and closing of the $60 billion transaction expected in the course of April. This follows the European Commission's conditional clearance of the transa... More

12 | 02 | 2003

South African Breweries successfully acquire Rheem Crown

The South African Competition Tribunal has permitted SAB's proposed acquisition of the largest crown operation in South Africa after SAB made certain concessions to rivals in both the drinks and crown markets. The South African Competition Commission had previously recommended that the transactio... More