Altice fined €124.5 million by the EC for gun jumping

On 24 April 2018, the European Commission (EC) imposed a €124.5 million fine on Altice for early implementation of its acquisition of the Portuguese telecommunications operator, PT Portugal, prior to obtaining merger control clearance.

This decision confirms that competition authorities worldwide are demonstrating greater intolerance towards companies that fail to comply with merger control procedures (see previous Linklaters alerts here and here). Enforcement is on the up and stricter standards are being applied. This trend is compounded by extensive review periods, which result in close scrutiny of the competitive effects of deals, and a very active M&A market. Deal-makers beware.

Click here for our alert following the announcement of this record fine, and here for a guidance note following publication of the Altice decision.