Brazilian competition regulator CADE has issued a ruling, declaring Cisco Systems Inc. and Technicolor SA liable for a combined fine totalling $30 million Reals ($7.3 million US), as penalty for failing to notify the regulator before completing a merger transaction, also known as ‘gun jumping’.
The case involves the sale of a Cisco Systems subsidiary to France’s Technicolor SA. The sale was under review by competition authorities from Brazil, as well as Canada, the United States, Colombia, The Netherlands and Ukraine. Records studied by CADE indicate the sale was completed on November 19th 2015, several days before CADE’s final ruling.
“Apart from this, CADE was aware of the situation thanks to other sources, with official notification being received only three days before the operation was announced to the press” said the Commissioner overseeing the case, Mr. Paulo Burnier.
Full content: CADE
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI