Today, the General Court of the European Union largely upheld the double gun jumping fine imposed by the European Commission on Altice for acquiring control over PT Portugal prior to notification to, and clearance by, the European Commission. This judgement is a clear warning to companies that they should limit the rights of the buyer over the target’s conduct between signing and closing in a notifiable transaction to what is necessary to ensure that the value of the target is preserved or to avoid its commercial integrity being compromised.
Want to know more? Contact one of our merger control specialists Herlinde Burez, Maaike Visser, Laura Sente and Manda Wilson or read the press release of the General Court. #mergercontrol #generalcourt #gunjumping #altice
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