Brussels – The European Commission has sent a Statement of Objections alleging that multinational telecommunications company Altice (the Netherlands), breached the EU Merger Regulation by implementing its acquisition of telecommunications operator PT Portugal before notification or approval by the Commission. The EU’s Merger Regulation requires that merging companies notify transactions prior to their implementation (“the notification requirement”), and do not implement transactions unless and until they have been notified and cleared by the Commission (“the standstill obligation”). Compliance with these obligations is essential for legal certainty, enables the Commission to conduct a correct analysis of the impact of mergers in the market and prevents the potentially detrimental impact of transactions on the competitive structure of the market. In this way, market forces work for the benefit of consumers.
In today’s Statement of Objections, the Commission takes the preliminary view that Altice actually implemented the acquisition prior to the adoption of the Commission’s clearance decision, and in some instances, prior to its notification. Commissioner Margrethe Vestager, in charge of competition policy, said: “If companies jump the gun by implementing mergers prior to notification or clearance, they undermine the effective functioning of the EU merger control system. The Statement of Objections sent to Altice shows how seriously the Commission takes breaches of the rules designed to protect the merger control system “.
