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EU: EC to fine Altice for gun jumping

By  |  April 18, 2018

According to a report by Reuters, the EU’s antitrust regulator is s set to hit French telecoms and cable group Altice with a hefty fine for concluding its 2015 acquisition of PT Portugal without first waiting for official approval.

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    The European Commission, which accused Altice of the violation in May last year, can impose fines up to 10% of a company’s global turnover for breaching EU rules. The company posted €23.4 billion (US$29 billion) in revenues last year.

    France’s competition regulator imposed an €80 million (US$99 million) fine on Altice two years ago for engaging in plans to buy SFR and Virgin Mobile before getting the necessary clearance.

    The Commission last year also charged Merck and Sigma-Aldrich, General Electric, and Canon with breaching EU procedural rules in their respective merger deals. Rulings are expected in the coming months.

    Full Content: Reuters

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