EU Antitrust Agency Must Rethink Mergers After Court Loss

Law360 (June 26, 2020, 1:25 PM EDT) -- Mergers in tightly packed European markets got a shot in the arm last month when the bloc's General Court assailed European Commission antitrust reviews in a drubbing experts say will make the enforcer much more cautious and companies more bold.

The implications of the General Court's ruling are not limited to CK Hutchison Holdings Ltd.'s planned £10.25 billion ($12.66 billion) acquisition of Telefonica SA's O2, blocked by the commission in 2016 in a decision undone May 28. Experts say that virtually any tie-ups creating substantial competitive reductions will be feeling the effects at least until the commission takes any appeal to Europe's...

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