On 4 August 2020 the CMA cleared Amazon’s minority investment in Deliveroo after an in-depth Phase 2 investigation. The CMA was concerned that Amazon was a potential re-entrant into online restaurant delivery in the UK and that Deliveroo and Amazon might be close competitors in “online convenience groceries”. The CMA ultimately dismissed both theories of harm in particular because it considered that a minority investment would be unlikely to prevent Amazon from re-entering restaurant delivery if it otherwise had a strong commercial incentive to do so.
The role of uncertainty in the future European horizontal merger guidelines: Lessons learned from Illumina/GRAIL
Under these circumstances, it is however not entirely clear how the future competitive landscape will look like, merger effects cannot be modelled with a high...