Court Rules EU Meddled Too Much In De Beers Case

Law360, New York (July 11, 2007, 12:00 AM EDT) -- The European Commission's eagerness to crack down on a perceived monopoly in the rough diamond trade led antitrust regulators to overstep their bounds in monitoring the relationship between diamond giant De Beers Consolidated Mines Ltd. and rival ALROSA Co. Ltd., an appellate court has ruled.

On Wednesday, the European Court of First Instance annulled a decision the Commission handed down in February 2006, ruling that the proposed restrictions on De Beers' and ALROSA's dealings were "manifestly disproportionate."

“The court also holds that the Commission merely accepted...
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