Telecoms Mergers under the EU Merger Regulation: A New Frame of Reference?

By Antonio Bavasso & Dominic Long –

The Commission has developed a rich decisional practice in response to a wave of consolidation in the telecoms sector. This gives rise to a number of interesting points on competition law and economics. In particular, a claim frequently made at the industry level is that, in the absence of in-market M&A consolidation, one or both of the parties to a merger would not be able to finance the investments necessary to remain competitive in an industr