EU Court Overturns Vivendi Asset Sale Decision

Law360, New York (September 13, 2010, 7:23 PM EDT) -- The General Court of the European Union has affirmed a decision by the EU's competition watchdog that allowed Lagardere Group to acquire Vivendi Universal Publishing, while striking down a later determination that approved Wendel Investissement as the purchaser of divested assets from the sale.

The court announced Monday that, after examining the European Commission's January 2004 approval of the sale, it found no evidence that Vivendi's assets could be deemed a concentration subject to anti-competition actions, as argued by French publisher Odile Jacob.

The court said...
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