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3000px, 100vw' /></picture></a> </div> </div> </div> </div> </div> <div class="wrapper" id="wrapper"> <div class="container"> <main class="content primary" id="content" role="main"> <article class="relative-content"> <div class="menu-glossaire-wrapper sticky-top" id="menu-definition"><ul class="nav menu-glossaire menu-nb-4"><li class='mav-item menu-glossaire-item menu-glossaire-item-auteur'><a class="btn btn-link" href="//en/dictionary/trustee-mergers-en#auteur" data-target="#auteur"><span class="picto-round picto-auteur"><img src='squelettes/img/picto-glossaire-auteur.svg?1619777159' alt='' width='20' height='19' /></span><span class="menu-glossaire-item-label">Author Definition</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-institution'><a class="btn btn-link" href="//en/dictionary/trustee-mergers-en#institution" data-target="#institution"><span class="picto-round picto-institution"><img src='squelettes/img/picto-glossaire-institution.svg?1619777159' alt='' width='18' height='16' /></span><span class="menu-glossaire-item-label">Institution Definition</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-references'><a class="btn btn-link" href="//en/dictionary/trustee-mergers-en#references" data-target="#references"><span class="picto-round picto-references"><img src='squelettes/img/picto-glossaire-references.svg?1619777159' alt='' width='15' height='18' /></span><span class="menu-glossaire-item-label">References</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-index'><button class="btn btn-link collapsed" role="button" data-target="#index" aria-expanded="false" aria-controls="index"><span class="picto-round picto-index"><img src='squelettes/img/picto-glossaire-index.svg?1619777159' alt='' width='20' height='18' /></span><span class="menu-glossaire-item-label">Table of contents</span></button></li></ul></div> <header class="section section_primary section_cols section_cartouche"> <div class="section__container"> <div class="cartouche cartouche_glossaire"> <h1 class="cartouche__heading" id="start"> <span class="start-mire"></span> <span class="crayon article-titre-12289 ">Trustee (mergers)</span> </h1> </div> </div> </header> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="auteur"> <span>Author Definition</span> </h2> <div class="section__content"> <div class="definition-section"> <h3 id="part-apercu" class="definition-section-title">Definition</h3> <div class="crayon article-chapo-117632 apercu surlignable"><p>In the context of mergers, a trustee refers to an appointed independent third party (natural or legal) to monitor and ensure compliance with remedies or conditions imposed as a part of the merger clearance process. The appointment process can differ among the jurisdictions however it is always subject to competition authorities’ approval. The trustee ensures that the merger’s conditions are met impartially, reporting to the regulatory authority and taking corrective actions if necessary. Trustee appointments are a regulatory tool to safeguard competition while allowing mergers to proceed under specified behavioural or/and structural conditions.</p></div> </div> <div class="definition-section"> <h3 id="part-texte" class="definition-section-title">Commentary</h3> <div class="crayon article-texte-117632 texte surlignable"><p>In the EU, if the Commission conditionally clears a merger, depending on the conditions, the merging parties may be required to submit one or more candidate trustees to the Commission, along with comprehensive details regarding the trustee’s scope of power and a work plan outline. The Commission holds the authority to approve both the trustee’s appointment and the terms of its mandate. The Commission has the discretion to select the trustee and will evaluate the candidate’s suitability for the specific tasks involved. The appointed trustee must maintain independence from the merging parties, possess the requisite qualifications for fulfilling their mandate, and avoid any conflicts of interest. The Commission has a standard model for trustee mandates in divestiture commitments which sets out the role and functions of the trustee in order to guide the merging parties.</p> <p>A trustee in a merger case may be a monitoring trustee or a divestiture trustee. When the Commission clears a merger with a divestiture remedy, the parties have to propose the appointment of a monitoring trustee and a divestiture trustee. Depending on the commitments, the monitoring trustee may be the same person as the divestiture trustee subject to the Commission’s approval and their services are paid for by the parties (Bellamy & Child, para. 8.189).</p> <p>The monitoring trustee is considered as the Commission’s ‘eyes and ears’ (Remedies Notice, para. 118). It is the guardian ensuring that the business is managed and maintained on a stand-alone basis in the interim period and divestiture process. If the merging parties cannot find a suitable purchaser within the first divestiture period, then in the trustee divestiture period, the divestiture trustee will hold sole responsibility for selling the divestment business without a specified minimum price requirement to a suitable purchaser.</p> <p>The obligations of the monitoring trustee will normally start immediately after the adoption of the Commission decision and last until the legal and actual transfer of the business to the approved purchaser. The Remedies Notice lists five main and non-exhaustive tasks for the monitoring trustee: (i) shall supervise the protective measures for the business to be divested during the interim period, (ii) in carve out cases, shall monitor the separation of divested business from the retained business, (iii) shall oversee the parties’ efforts to find a potential suitable purchaser, (iv) shall act as a contact point for third parties about commitments and (v) shall submit periodic reports on compliance to the Commission.</p> <p>Almost 40% of the conditionally cleared mergers globally include behavioural remedies (Allen & Overy). Due to the extended timeframes and complex nature of behavioural commitments, they typically require significant monitoring efforts to enable the Commission to effectively assess their successful implementation. Therefore, the Commission seeks the appointment of a monitoring trustee in order to ensure effective monitoring of the commitments.</p> <p>In certain merger clearances, the monitoring trustee has unconventional responsibilities in monitoring the compliance of complex and long term remedies. In the Google/Fitbit Decision, the Commission pointed out that the monitoring trustee “will have far-reaching competences, including access to Google’s records, personnel, facilities or technical information” in order to monitor the implementation of the commitments for 10 years. The reporting obligation of the trustee also included reporting to the Irish Data Protection Commission as well as the Commission. The monitoring trustee also played a proactive role and had assistance with technical issues from other firms.</p> <p>In the UK, similarly to the EU, trustee candidates are remunerated by the merging parties and approved by the CMA. Independence from the parties, having capability and suitable qualifications and being conflict free are also sought as the characteristics of the trustee. The CMA also mentions that trustees may be part of an accounting firm, management consultancy or other professional organisation. The role of a divestiture trustee and a monitoring trustee differs; however the two roles may be performed by the same person.</p> <p>In the UK merger control regime, the CMA may adopt interim measures until it ends its investigation of a proposed merger. In this case, a monitoring trustee may be required by the CMA to monitor and report on the merging parties’ compliance with the interim measures and it may act as a hold-separate manager, if applicable.</p> <p>There might be significant consequences for the merging parties if they do not comply with the interim measures. In 2021, the CMA imposed a fine of £50.5 million on Facebook for its failure to comply with the initial enforcement order (hold separate order) during the acquisition period of Giphy. In the decision, the CMA stated that Facebook had not fully cooperated with the monitoring trustee in full in compliance with the interim measures (Facebook/Giphy para. 318).<br class='autobr' /> In the US, an independent trustee is appointed by the US regulatory authorities, rather than by the parties. The appointment of a monitoring trustee is not always required. If the technical expertise of the agency is not sufficient or the monitoring compliance would create a high burden on the agencies, the appointment of a monitoring trustee by the parties may be sought (DOJ Merger Remedies Manual, p. 30).</p> <p>In terms of divestiture remedies, the US Agencies must have the ability to seek the appointment of a trustee to sell the assets if the parties are unable to complete the ordered sale within the period prescribed by the decree (DOJ Merger Remedies Manual, p. 29).</p> <p>Similarly to the Commission, the FTC stated that the trustee serves as the "eyes and ears" of the FTC and the staff and therefore FTC is looking for someone who - in addition to having no conflict - has experience divesting assets in the affected industry (FTC – Competition Guidance – Negotiating Merger Remedies).</p></div> </div> <div class="definition-section"> <h3 id="part-jurisprudence" class="definition-section-title">Case references</h3> <div class="crayon article-reference-117632 reference"><p><a href="https://www.concurrences.com/IMG/pdf/m9660_3314_3.pdf?69098/0582f07463fe6b7c0668adcc46a340f1aeffed8f3aac87187488556b281305b5">Commission Case M.9660 – Google/Fitbit</a></p> <p><a href="https://www.concurrences.com/IMG/pdf/cma_fines_facebook_over_enforcement_order_breach_-_gov.uk-2.pdf?73141/4d51e8d464efa9c5bdc3fed238dec3a057574185678278f8efa4e01fe81d6b44">CMA’s Facebook/Giphy Penalty Notice (20 October 2021)</a></p></div> </div> <div class="definition-section"> <h3 id="part-biblio" class="definition-section-title">Bibliography</h3> <div class="crayon article-ps-117632 jurisprudence"><p>Thomas Hoehn, Trustees in Mergers: An overview of EU and national case law, 19 August 2021, e-Competitions Trustees in Mergers, Art. N° 101466</p> <p>David Bailey and Laura Elizabeth John (eds.), Bellamy and Child: European Union Law of Competition (8th edn, Oxford University Press 2018).</p> <p>COMMISSION NOTICE on remedies acceptable under Council Regulation (EC) No 139/2004 and under Commission Regulation (EC) No 802/2004.</p> <p>Antitrust Division U.S. Department of Justice Merger Remedies Manual (September 2020)</p> <p>FTC – Competition Guidance – Negotiating Merger Remedies</p> <p>Allen Overy’s Global trends in merger control enforcement</p></div> </div> </div> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_definition sticky-top" id="definition-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/trustee-mergers-en#part-apercu" data-target="#part-apercu">Definition</a></li> <li><a href="//en/dictionary/trustee-mergers-en#part-texte" data-target="#part-texte">Commentary</a></li> <li><a href="//en/dictionary/trustee-mergers-en#part-jurisprudence" data-target="#part-jurisprudence">Case references</a></li> <li><a href="//en/dictionary/trustee-mergers-en#part-biblio" data-target="#part-biblio">Bibliography</a></li> </ul> </div> <h2>Author</h2> <div class="auteurs"> <ul class="liste-items liste-items-well"> <li class="item"><div class="entry auteur" itemscope itemtype="http://schema.org/Person"> <strong class="entry-title"> <a href="en/authors/ayberk-kurt" itemprop="url"> <span class='logo-img-wrapper spip_logo' style="width:50px;"><span class="img" style="display:block;position:relative;height:0;width:100%;padding-bottom:100%;overflow:hidden;background:url(local/cache-vignettes/L100xH100/auton80276-0b61c.png?1711359730) no-repeat center;background-size:100%;"> </span></span> <span itemprop="name" class="nom">Ayberk Kurt </span></a> </strong> <div class="entry-content"> <span class='organisation' itemprop="worksFor" itemtype="http://schema.org/Organization">Actecon (Istanbul)</span> </div> <div class="entry-meta"> <span class="pays">Turkey</span> <span class="articles"><em>8</em> contributions</span> <span class="visites"><em>4732</em> visits</span> </div> </div></li> </ul> </div> <div class="well citation"> <h2>Quotation</h2> <article class="entry article article-dictionary hentry"> <span class="authors">Ayberk Kurt, </span> <span class="entry-title">Trustee (mergers)</span><span class="rubrique"><span class="sep">, </span> Global Dictionary of Competition Law, Concurrences, Art. N° 12289</span> </article> </div> <div class="well stats"> <p><i class="picto picto-eye"></i> <b>Visits</b> <em class="number">4163</em></p> </div> </aside> </div> </section> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="institution"> <span>Institution Definition</span> </h2> <div class="section__content"> <div class="crayon article-texte-12289 texte surlignable"><p>A legal or natural person appointed in merger cases to oversee the implementation of commitments and to contribute to their implementation where required. The trustee is appointed by the parties who have offered commitments the Commission with the Commission’s approval. His powers and duties are set out in the Trustee mandate, an agreement between the trustee and the parties - again subject to the Commission’s approval. The Trustee normally has the power to propose and if necessary impose measures on the parties to ensure compliance with the commitments as well as an irrevocable mandate to effect the divestiture of the business or businesses to be sold, at no minimum price, if the parties fail to do so within a given period. <strong><a href="IMG/pdf/european_commission_glossary_of_terms_used_in_eu_competition_policy_-_antitrust_and_control_of_concentrations.pdf?40143/c3774ee64935572d46552d77051b73fee53aeda168348c3575d30d9dabcc7a34" class="spip_in" type='application/pdf'>European Commission</a> </strong></p> <p>See the <a href="IMG/pdf/celex_52008xc1022_01__en_txt.pdf?51220/dc9be94f52b2b9115d5f7ba7c729d687ad7360e5352a96eb2c6db70121d6ca1e" class="spip_in" type='application/pdf'>Commission Notice on remedies acceptable under Council Regulation (EC) No 139/2004 and under Commission Regulation (EC) No 802/2004</a></p></div> </div> </div> <aside class="section__aside side-col"></aside> </div> </section> <section class="section section_primary section_cols section_references scrollable-anchor"> <div class="section__container"> <div class="section__main"> <section class="subsection subsection_jurisprudence related-section related-jurisprudence scrollable-anchor"> <h2 class="section__heading" id="related-jurisprudence"> <span id="references">Case Comments</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yXvQlW9uyjRS6dlOejTvml+1ecmf40UQoSlmEOgN/wGOK3asHZ5o3ohK3R8ztI1VZw+wzxuBdPuWvbQUJSXPecxi08NxbQJJGUrmS0xuEoOfdONfLaWI1+4296EuytNKkw0LMJT6hcq4LfRsXAGeO5pmuB3cKNXrAlDVG9VYOsoNa+S4COBTk606XUpDuAXB74LHDzzMarhCRhgZ8lCs+g11GVtt6m92/HwFcy7apytESl6/60o3PQvhMX0yY57LHDyxTv3bAKs8Reae73n/5+4lGAOBDFXIF1VsYpEOJzGpbmo+ZuICeemVtqNfUjslNEDfYslzJRJRA8Da4KTpJVY0qLBFurKmw==' data-origin="//en/dictionary/trustee-mergers-en"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/uk-competition-authority">UK Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/december-2024/the-uk-competition-authority-clears-a-merger-in-the-telecommunications-market" rel="bookmark">The UK Competition Authority clears a merger in the telecommunications market subject to legally binding commitments to roll out a combined 5G network <em>(Vodafone / Three)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-12-04T23:00:00Z">5 December 2024</time></p> <div class="crayon article-intro-122329 introduction entry-content"> <p>CMA clears Vodafone / Three merger, subject to legally binding commitments* <br class='autobr' /> Proposed commitments would ensure the merger boosts competition in UK telecoms with rollout of 5G connectivity Ofcom and CMA would oversee commitments from Vodafone and Three to implement, in full, the merged (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/paul-gilbert">Paul Gilbert</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/ricardo-zimbron">Ricardo Zimbron</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/anders-jay">Anders Jay</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/nicholas-levy">Nicholas Levy</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/december-2024/the-uk-competition-authority-clears-the-merger-between-2-major" rel="bookmark">The UK Competition Authority clears the merger between 2 major telecommunications companies subject to behavioural commitments <em>(Vodafone / Three)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-12-04T23:00:00Z">5 December 2024</time></p> <div class="crayon article-intro-122350 introduction entry-content"> <p>Learnings from Vodafone/Three <br class='autobr' /> The UK Competition and Markets Authority (CMA) has cleared the Vodafone/Three merger subject to behavioural remedies. The transaction will bring together two of the four largest UK mobile network operators and potentially transform the UK telecoms landscape. The (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/romanian-competition-authority">Romanian Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/december-2024/the-romanian-competition-authority-clears-the-largest-takeover-of-a-food-retail" rel="bookmark">The Romanian Competition Authority clears the largest takeover of a food retail chain by a rival, subject to behavioral and structural conditions <em>(Mega Image / Profi)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-11-30T23:00:00Z">1 December 2024</time></p> <div class="crayon article-intro-122362 introduction entry-content"> <p>COMPETITION COUNCIL CONDITIONALLY APPROVED THE TAKEOVER OF PROFI BY MEGA IMAGE* <br class='autobr' /> The Competition Council approved under conditions the transaction by which Delhaize "The Lion" Nederland B.V. (Mega Image) takes over Profi Rom Food S.R.L. <br class='autobr' /> As a result, Mega Image has to fulfill a series of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/hellenic-competition-authority">Hellenic Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/october-2024/the-hellenic-competition-authority-conditionally-clears-a-joint-venture-between" rel="bookmark">The Hellenic Competition Authority conditionally clears a joint venture between 2 companies that will carry out a major rail construction project <em>(Hellenic Train / Damco Energy)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-10-30T23:00:00Z">31 October 2024</time></p> <div class="crayon article-intro-121469 introduction entry-content"> <p>Clearance of a proposed concentration subject to terms and conditions (remedies)* <br class='autobr' /> Subject: Decision 861/2024 – Clearance of the proposed concentration concerning the establishment of a Joint Venture for the operation, maintenance, exploitation, completion of project studies, construction works (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/argentinian-competition-authority">Argentinian Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/september-2024/the-argentinian-competition-authority-issues-conditional-authorisation-with-7" rel="bookmark">The Argentinian Competition Authority issues conditional authorisation with 7 remedial measures for a joint venture in the wet corn milling industry <em>(Arcor / Ingredion)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-09-15T22:00:00Z">16 September 2024</time></p> <div class="crayon article-intro-120933 introduction entry-content"> <p>Arcor/Ingredion: the formation of Ingrear was subordinated to compliance with structural and behavioral measures* <br class='autobr' /> The CNDC and the Secretariat of Industry and Commerce decided to subordinate the authorization for the consolidation of the wet corn milling business and the commercialization of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/chilean-competition-authority-132330">Chilean Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/september-2024/the-chilean-competition-court-clears-the-joint-operation-of-liquid-fuel-storage" rel="bookmark">The Chilean Competition Court clears the joint operation of liquid fuel storage plants by 3 energy companies, subject to remedies <em>(Copec / Enex / Esmax)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-09-08T22:00:00Z">9 September 2024</time></p> <div class="crayon article-intro-120952 introduction entry-content"> <p>Resolution No. 84/2024: TDLC resolves FNE Consultation on joint operation of liquid fuel storage plants* <br class='autobr' /> On September 9, 2024, the Free Competition Defense Tribunal issued Resolution No. 84/2024 regarding the consultation submitted by the National Economic Prosecutor’s Office ("FNE") on (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/us-department-of-justice-antitrust-division">US Department of Justice Antitrust Division</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/august-2024/the-us-doj-reaches-a-3-5m-settlement-with-a-venue-services-company-over-alleged" rel="bookmark">The US DoJ reaches a $3.5M settlement with a venue services company over alleged illegal pre-merger coordination in connection with its proposed acquisition of a rival <em>(Legends / ASM)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-08-04T22:00:00Z">5 August 2024</time></p> <div class="crayon article-intro-120077 introduction entry-content"> <p>Justice Department Secures Settlement of Lawsuit Alleging Illegal Premerger Coordination by Legends Hospitality in Connection with its Acquisition of ASM Global* <br class='autobr' /> Proposed Settlement Requires Legends to Pay $3.5M in Civil Penalties, Prohibits Certain Conduct and Requires that Legends Appoint an (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/portuguese-competition-authority">Portuguese Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/july-2024/the-portuguese-competition-authority-approves-a-merger-between-a-wind-farm" rel="bookmark"> The Portuguese Competition Authority approves a merger between a wind farm company and a renewable energy producer following a promise to maximise energy generation <em>(Parques Eólicos / Promoção e Operação)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-07-04T22:00:00Z">5 July 2024</time></p> <div class="crayon article-intro-120201 introduction entry-content"> <p>AdC approves acquisition of exclusive control of wind farms, following EDP commitments* <br class='autobr' /> The proposed acquisition <br class='autobr' /> The Portuguese Competition Authority (AdC) has decided not to oppose the acquisition by EDPR PT – Promoção e Operação, S.A., a company of the EDP Group, of the exclusive control (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/lithuanian-competition-council-44286">Lithuanian Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/may-2024/the-lithuanian-competition-authority-welcomes-the-implementation-of-a" rel="bookmark">The Lithuanian Competition Authority welcomes the implementation of a divestment remedy to restore effective competition in the markets for maintenance, repair, and replacement of lifting equipment <em>(Kauno liftai / Baltijos liftai / Šiaulių liftas)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-05-01T22:00:00Z">2 May 2024</time></p> <div class="crayon article-intro-118668 introduction entry-content"> <p>KAUNO LIFTAI HAS PROPERLY FULFILLED ITS COMMITMENTS* <br class='autobr' /> The Competition Council has recognised that Kauno liftai has properly implemented its commitments by selling a part of the acquired business and thus restoring effective competition in the markets for maintenance, repair, and replacement of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/irish-competition-authority">Irish Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/april-2024/the-irish-competition-authority-approves-a-merger-in-the-pharmaceutical-sector" rel="bookmark">The Irish Competition Authority approves a merger in the pharmaceutical sector subject to structural and behavioural remedies <em>(LloydsPharmacy / McCabes Pharmacy)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-04-25T22:00:00Z">26 April 2024</time></p> <div class="crayon article-intro-118525 introduction entry-content"> <p>Lloyds/McCabes Pharmacy deal approved by CCPC with commitments* <br class='autobr' /> The Competition and Consumer Protection Commission (CCPC) has cleared LloydsPharmacy’s purchase of McCabes Pharmacy (M/24/011). The clearance is subject to commitments, involving the sale of two pharmacies in Lucan, Dublin. (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/spanish-competition-authority">Spanish Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/april-2024/the-spanish-competition-authority-clears-a-private-hospital-merger-in-orense" rel="bookmark">The Spanish Competition Authority clears a private hospital merger in Orense province, subject to several behavioural commitments <em>(Centro Médico El Carmen / Hospitales Cosaga)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-04-17T22:00:00Z">18 April 2024</time></p> <div class="crayon article-intro-118415 introduction entry-content"> <p>The CNMC clears the acquisition of Centro Médico El Carmen by Hospitales Cosaga, subject to multiple commitments* The acquisition concerns the provision of private healthcare services in Orense, where only Cosaga will be operating. The commitments aim to ensure the quality of these services and (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/brazilian-competition-authority">Brazilian Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/april-2024/the-brazilian-competition-authority-publishes-a-guideline-to-formalise-and" rel="bookmark">The Brazilian Competition Authority publishes a guideline to formalise and improve the monitoring and implementation of remedies in merger control and anticompetitive practices</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-04-01T22:00:00Z">2 April 2024</time></p> <div class="crayon article-intro-118262 introduction entry-content"> <p>CADE publishes the Manual Trustee* <br class='autobr' /> The document formalises trusteees assistance to monitor decisions and agreements. <br class='autobr' /> On 02 April, the Office of the Superintendent General of the Administrative Council for Economic Defense (SG/CADE) released the Manual Trustee, available in Portuguese. The (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/european-commission-363">European Commission</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/february-2024/the-eu-commission-conditionally-clears-a-merger-between-2-international" rel="bookmark">The EU Commission clears a merger between 2 international transport and logistics companies subject to divestments <em>(Bolloré Logistics / CMA CGM)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-02-22T23:00:00Z">23 February 2024</time></p> <div class="crayon article-intro-117333 introduction entry-content"> <p>Commission clears acquisition of Bolloré Logistics by CMA CGM, subject to conditions* <br class='autobr' /> The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Bolloré Logistics SE (‘Bolloré Logistics’) by CMA CGM S.A. (‘CMA CGM’). The approval is conditional upon full (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/european-commission-363">European Commission</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/february-2024/the-eu-commission-conditionally-approves-a-joint-venture-between-two-mobile" rel="bookmark">The EU Commission conditionally approves a joint venture between 2 mobile network operators in Spain <em>(Orange / MásMóvil)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-02-19T23:00:00Z">20 February 2024</time></p> <div class="crayon article-intro-117340 introduction entry-content"> <p>Commission approves joint venture between Orange and MásMóvil in Spain, subject to conditions* <br class='autobr' /> The European Commission has approved, under the EU Merger Regulation, the proposed creation of a joint venture by Orange and MásMóvil. The approval is conditional upon full compliance with a (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/european-commission-363">European Commission</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/february-2024/the-eu-commission-conditionally-approves-the-acquisition-of-a-major-south" rel="bookmark">The EU Commission conditionally approves the acquisition of a major South Korean airline by a rival <em>(Asiana / Korean Air)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-02-12T23:00:00Z">13 February 2024</time></p> <div class="crayon article-intro-117230 introduction entry-content"> <p>Commission approves the acquisition of Asiana by Korean Air, subject to conditions* <br class='autobr' /> The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Asiana Airlines Inc. (’Asiana’) by Korean Air Lines Co., Ltd (’Korean Air’). The approval is conditional upon (…)</p> </div> </article></div> <div class="pagination more"><a id='pagination_articles_related' class='pagination_ancre'></a> <ul class="pager"> <li class="next"><a href='//en/dictionary/trustee-mergers-en?debut_articles_related=15#pagination_articles_related' class='lien_pagination more' rel='next'>More…</a></li> </ul></div> </div> </div> </div> </section> <section class="subsection subsection_articles related-section related-articles scrollable-anchor"> <h2 class="section__heading" id="related-articles"> <span>Articles</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yVlRhW9p2gOs/ek/D4niLIMc+xy1xpyOSpykYFNnSd68EBVa74tDd1C3QeaMp752PjfKrceZhquXe+TqqF7bFQN6jY0RRp0FlHuWfz8YljGuppbfSujixKthGM0t73XXfkfZSgfgE+XpV77neBXWXhrQcTlMvVLjMX7TmyF4FDAj0snFUD7ydcqFpWFpEiK6fwDxZdt1yDT953bYB5XX1Y65OlR5QFt1tENe3Cfrl5wkmTBonJ+F+KdVElrPOkaVxnX8awwGvGR1mZK4gGNG58DbGYzJvpl0BWf+OHsrcLWrRt+YXVOr7C6OVA0h2vNm43JRo0IzCE5Ey3QgoJAkvxq4Q==' data-origin="//en/dictionary/trustee-mergers-en"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/michel-van-zundert">Michel van Zundert</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/nasoul-gopal">Nasoul Gopal</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2017/international/role-of-trustees-in-the-uk-merger-control-regime" rel="bookmark">UK: Role of trustees in the merger control regime</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2017-08-31T22:00:00Z">September 2017</time></p> <div class="crayon article-intro-84427 introduction entry-content"> <p>Competition agencies worldwide appoint monitoring trustees (MTs) when competition concerns arise from a merger. In the UK, it also is quite common to appoint a MT during the CMA’s review process to avoid gun jumping or enable (cross-border) integration. This article compares the role of the MT (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/antoni-vassileff">Antoni Vassileff</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Patrick-de-Bonnieres">Patrick de Bonnières</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2014/editorial/toward-best-practices-for-antitrust-trustees" rel="bookmark">Toward best practices for antitrust trustees</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2014-01-31T23:00:00Z">February 2014</time></p> <div class="crayon article-intro-62203 introduction entry-content"> <p>Drawing on other regulated professions or activities, this article suggests a possible approach to the supervision of the Monitoring Trustee practice. Its pragmatic implementation under the aegis of competition authorities could notably lead to better service quality for companies under the (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Alain-Mouzon">Alain Mouzon</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/christophe-lemaire">Christophe Lemaire</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/david-bosco">David Bosco</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/laurence-idot">Laurence Idot</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/pascal-wilhelm">Pascal Wilhelm</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Patrick-de-Bonnieres">Patrick de Bonnières</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/thierry-dahan">Thierry Dahan</a></span></span> <strong class="h6-like entry-title"><a href="en/review/numeros/no-1-2012/on-topic/the-breach-of-commitments-in-competition-proceedings" rel="bookmark">The breach of commitments in competition proceedings</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2012-01-31T23:00:00Z">February 2012</time></p> <div class="crayon article-intro-41910 introduction entry-content"> <p>This set of articles explores the case of breach of commitments in competition proceedings. Recent cases, in France and abroad, have highlited issues that commitments monitoring may cause. Thierry Dahan and Christophe Lemaire express here the lawyers general point of view in antitrust law, (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/christelle-adjemian">Christelle Adjémian</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/umberto-berkani">Umberto Berkani</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2009/revues/competition-journals-european-competition-law-review-world-competition-european" rel="bookmark">Competition Journals: April - June 2009</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2009-08-31T22:00:00Z">September 2009</time></p> <div class="crayon article-intro-28227 introduction entry-content"> <p>1. General - Scope of application <br class='autobr' /> Reforms of French competition law: the big game? Part [2] E. Claudel (RTD com. Jan-March 2009, p. 91-113). <br class='autobr' /> In this very comprehensive article devoted to the overall reform of competition law in 2008, Emmanuelle Claudel goes back over the premises of the (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Ainura-Abdyrakunova">Ainura Abdyrakunova</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Niyazbek-Aldashev">Niyazbek Aldashev</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Volker-Soyez">Volker Soyez</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2009/pratiques/merger-control-in-central-asia-mandatory-pre-merger-notification-23211" rel="bookmark">Merger control in Central Asia: Mandatory pre-merger notification</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2009-01-31T23:00:00Z">February 2009</time></p> <div class="crayon article-intro-23211 introduction entry-content"> <p>This brief article provides an introduction to merger control in Central Asia and its enforcement by the local competition authorities. Merger Control regimes exist in all Central Asian countries. They largely follow the western models and they all provide for mandatory premerger notification (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/anna-a-chehtova">Anna Chehtova</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2009/international/bulgaria-the-2008-competition-act-23221" rel="bookmark">Bulgaria: The 2008 Competition Act</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2009-01-31T23:00:00Z">February 2009</time></p> <div class="crayon article-intro-23221 introduction entry-content"> <p>La nouvelle loi bulgare sur la concurrence, entrée en vigueur le 2 Décembre 2008, a comme objet l’harmonisation du droit de la concurrence bulgare avec les règles communautaires. La loi introduit les fondations d’un programme de réduction et d’exemption des sanctions ainsi que une action en (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/laurent-nouvel-562">Laurent Nouvel</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Matthew-Gaved">Matthew Gaved</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Nadine-Mouy">Nadine Mouy</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/nathalie-jalabert-doury">Nathalie Jalabert-Doury</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/thomas-hoehn">Thomas Hoehn</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2007/articles-en/Merger-remedies-A-call-for-a" rel="bookmark">Merger remedies: A call for a stricter control</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2007-04-30T22:00:00Z">May 2007</time></p> <div class="crayon article-intro-13603 introduction entry-content"> <p>The credibility of the system of merger control relies on the fact that firms comply with the remedies. The importance of this issue has been increased by the development of behavioural remedies and by the increasing complexity of the different types of structural remedies. In this context, the (…)</p> </div> </article></div> </div> </div> </div> </section> <section class="subsection related-section related-articles scrollable-anchor"> <h2 class="section__heading" id="related-events"> <span>Events</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yXTRhW9u6jRg7ds3vXr5lQaXjTjOU9/LLBzHMoRDLlevybASSmMCa3GEgrSH4H572KaOCArm2OVBiw8DqVzyIS1AxU75UfSyPKcNpPxRUuHq0unfiWjVNpGgNDk2t4lFJ5vLPaGSc6zQ86C1eZCFKggsU1dMeQ2JSWuGgzey1w49hJTCCUODe0Adb9fDuKjmP2JjyUpVg0XvybyKTQpxgZgLGMMWGS8s1v7xsgY6YfXDvRYCXt9rbccokStNxq/sdq+CWtWIQ/SIEbWMs5JtoMPgOdLB1LVLqCM+4ASbvVtUOoNxydym7M3K4KTgngdt+W64AxmWKrRw4X078gLwsdjZF/8xmg=' data-origin="//en/dictionary/trustee-mergers-en"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/virginie-beaumeunier">Virginie Beaumeunier</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/alvaro-ramos">Alvaro Ramos</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/olivier-guersent">Olivier Guersent</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/antoni-vassileff">Antoni Vassileff</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/laurence-idot">Laurence Idot</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/michael-grenfell">Michael Grenfell</a></span></span> <strong class="h6-like entry-title"><a href="en/events/11th-new-frontiers-of-antitrust-conference-2-improving-the-effectiveness-and" rel="bookmark">11th New Frontiers of Antitrust Conference #2 Improving the effectiveness and the agility of competition law enforcement</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2020-11-04T15:00:00Z">4 November 2020</time></p> <div class="crayon article-intro-96945 introduction entry-content"><p>2nd Webinar of the « 11th New Frontiers of Antitrust Conference » organised by Concurrences, in partnership with Advolis Orfis and Qualcomm, with <a href="en/authors/virginie-beaumeunier" class="spip_in">Virginie Beaumeunier</a> (Director General, DGCCRF), <a href="en/authors/olivier-guersent" class="spip_in">Olivier Guersent</a> (Director General, DG COMP - European Commission), <a href="en/authors/michael-grenfell" class="spip_in">Michael Grenfell</a> (Executive Director - Enforcement, UK Competition and Markets Authority), <a href="en/authors/laurence-idot" class="spip_in">Laurence Idot</a> (Emeritus Professor, University Paris II Panthéon-Assas | President, Concurrences Review Scientific Committee), <a href="en/authors/alvaro-ramos" class="spip_in">Alvaro Ramos</a> (Vice President - Head of Global Antitrust, Qualcomm) and <a href="en/authors/antoni-vassileff" class="spip_in">Antoni Vassileff</a> (Partner, Advolis Orfis).</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/jerome-vidal">Jérôme Vidal</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/alexandre-menais">Alexandre Menais</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/fayrouze-masmi-dazi">Fayrouze Masmi-Dazi</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/antoine-chapsal">Antoine Chapsal</a></span></span> <strong class="h6-like entry-title"><a href="en/events/the-new-merger-control-guidelines-of-the-french-competition-authority-what-we" rel="bookmark">The new merger control guidelines of the French Competition Authority: What we need to know</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2019-09-24T10:30:00Z">24 September 2019</time></p> <div class="crayon article-intro-91004 introduction entry-content"><p>Law & Economics workshop organised by Concurrences with Jérôme Vidal (Autorité de la concurrence), in partnership with Frieh Associés and Analysis Group.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/gwenaelle-nouet">Gwenaëlle Nouët</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/nathalie-jalabert-doury">Nathalie Jalabert-Doury</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Patrick-de-Bonnieres">Patrick de Bonnières</a></span></span> <strong class="h6-like entry-title"><a href="en/events/mergers-recent-french-practice-in-the-implementation-of-commitments-and-role-of" rel="bookmark">Mergers : Recent French practice in the implementation of commitments and role of trustee</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2015-03-12T11:00:00Z">12 March 2015</time></p> <div class="crayon article-intro-82934 introduction entry-content"><p>Workshop organized by Concurrences in partnership with Mayer Brown and Advolis.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/gwenaelle-nouet">Gwenaëlle Nouët</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/nathalie-jalabert-doury">Nathalie Jalabert-Doury</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/Patrick-de-Bonnieres">Patrick de Bonnières</a></span></span> <strong class="h6-like entry-title"><a href="en/events/upcoming-events/recent-french-practice-in-the-implementation-of-commitments-and-role-of-trustee" rel="bookmark"><strong>Recent French practice in the implementation of commitments and role of trustee</strong></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2015-01-27T00:11:11Z">27 January 2015</time></p> <div class="crayon article-intro-70977 introduction entry-content"><p>Gwenaëlle Nouët <br/>Nathalie Jalabert-Doury<br/>Patrick de Bonnières</p></div> </article></div> </div> </div> </div> </section> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_related sticky-top" id="related-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/trustee-mergers-en#related-jurisprudence" data-target="#related-jurisprudence">Case Comments</a></li> <li><a href="//en/dictionary/trustee-mergers-en#related-articles" data-target="#related-articles">Articles</a></li> <li><a href="//en/dictionary/trustee-mergers-en#related-events" data-target="#related-events">Events</a></li> </ul> </div> </aside> </div> </section> <div class="index-overlay collapse" id="index"> <span class="arrow-top"></span> <button class="close">×</button> <div class="glossaire-index"> <div class="main"> <div class="index"> <a class="lettre" href="//en/dictionary/trustee-mergers-en#a" data-anchor="#a">a</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#b" data-anchor="#b">b</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#c" data-anchor="#c">c</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#d" data-anchor="#d">d</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#e" data-anchor="#e">e</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#f" data-anchor="#f">f</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#g" data-anchor="#g">g</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#h" data-anchor="#h">h</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#i" data-anchor="#i">i</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#j" data-anchor="#j">j</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#k" data-anchor="#k">k</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#l" data-anchor="#l">l</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#m" data-anchor="#m">m</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#n" data-anchor="#n">n</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#o" data-anchor="#o">o</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#p" data-anchor="#p">p</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#r" data-anchor="#r">r</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#s" data-anchor="#s">s</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#t" data-anchor="#t">t</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#u" data-anchor="#u">u</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#v" data-anchor="#v">v</a> <a class="lettre" href="//en/dictionary/trustee-mergers-en#w" data-anchor="#w">w</a> </div> </div> <div class="row entree" id="a"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">a</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/absolute-territorial-protection">Absolute territorial protection </a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-dominant-position-en">Abuse of dominant position</a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-economic-dependence">Abuse of economic dependence</a> <span class="sep">•</span> <a href="en/dictionary/access-to-the-file-en">Access to the file</a> <span class="sep">•</span> <a href="en/dictionary/actual-competitor">Actual competitor </a> <span class="sep">•</span> <a href="en/dictionary/administered-prices">Administered prices</a> <span class="sep">•</span> <a href="en/dictionary/advisory-committee-118302">Advisory committee</a> <span class="sep">•</span> <a href="en/dictionary/agent-en">Agent</a> <span class="sep">•</span> <a href="en/dictionary/agreement-notion-en">Agreement (notion)</a> <span class="sep">•</span> <a href="en/dictionary/ai-collusion-algorithm">AI Collusion (Algorithm)</a> <span class="sep">•</span> <a href="en/dictionary/AKZO-Procedure">AKZO Procedure </a> <span class="sep">•</span> <a href="en/dictionary/amicus-curiae">Amicus curiae</a> <span class="sep">•</span> <a href="en/dictionary/ancillary-restraints">Ancillary restraints </a> <span class="sep">•</span> <a href="en/dictionary/annulment">Annulment</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-market-distortions">Anticompetitive Market Distortions</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-object-or-effect-en">Anticompetitive object or effect</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-practices">Anticompetitive practices</a> <span class="sep">•</span> <a href="en/dictionary/Antitrust">Antitrust</a> <span class="sep">•</span> <a href="en/dictionary/applicable-law">Applicable law</a> <span class="sep">•</span> <a href="en/dictionary/arbitration">Arbitration</a> <span class="sep">•</span> <a href="en/dictionary/article-11-letter">Article 11 letter </a> <span class="sep">•</span> <a href="en/dictionary/artificial-intelligence">Artificial Intelligence </a> <span class="sep">•</span> <a href="en/dictionary/aec-as-efficient-competitor-principle-and-test">As-Efficient Competitor (AEC)</a> </div> </div> </div> <div class="row entree" id="b"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">b</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/barriers-to-entry-en">Barriers to entry</a> <span class="sep">•</span> <a href="en/dictionary/bertrand-nash-equilibrium">Bertrand (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/bid-rigging">Bid rigging</a> <span class="sep">•</span> <a href="en/dictionary/block-exemption-regulation">Block exemption (Regulation) </a> <span class="sep">•</span> <a href="en/dictionary/boycott">Boycott</a> <span class="sep">•</span> <a href="en/dictionary/brand-competition-en">Brand competition</a> <span class="sep">•</span> <a href="en/dictionary/bundling">Bundling</a> <span class="sep">•</span> <a href="en/dictionary/burden-of-proof">Burden of proof</a> <span class="sep">•</span> <a href="en/dictionary/buyer-power">Buyer power </a> </div> </div> </div> <div class="row entree" id="c"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">c</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/cartel">Cartel </a> <span class="sep">•</span> <a href="en/dictionary/clearance-phase-ii-merger">Clearance phase II (merger)</a> <span class="sep">•</span> <a href="en/dictionary/collecting-society">Collecting society </a> <span class="sep">•</span> <a href="en/dictionary/collective-dominance">Collective dominance</a> <span class="sep">•</span> <a href="en/dictionary/collective-redress-class-action">Collective redress (class action)</a> <span class="sep">•</span> <a href="en/dictionary/comity">Comity </a> <span class="sep">•</span> <a href="en/dictionary/commission-communication">Commission communication</a> <span class="sep">•</span> <a href="en/dictionary/competence">Competence </a> <span class="sep">•</span> <a href="en/dictionary/competition-policy-89181">Competition policy</a> <span class="sep">•</span> <a href="en/dictionary/complaint">Complaint </a> <span class="sep">•</span> <a href="en/dictionary/Compliance-programme">Compliance programme </a> <span class="sep">•</span> <a href="en/dictionary/compulsory-license">Compulsory license</a> <span class="sep">•</span> <a href="en/dictionary/concentration-indexes-en">Concentration indexes</a> <span class="sep">•</span> <a href="en/dictionary/concerted-practices-en">Concerted practices</a> <span class="sep">•</span> <a href="en/dictionary/concession-86056">Concession</a> <span class="sep">•</span> <a href="en/dictionary/concurrent-jurisdiction">Concurrent jurisdiction</a> <span class="sep">•</span> <a href="en/dictionary/Consortium-12192">Consortium </a> <span class="sep">•</span> <a href="en/dictionary/consumer-protection">Consumer protection</a> <span class="sep">•</span> <a href="en/dictionary/consumers-associations-en">Consumers’ associations</a> <span class="sep">•</span> <a href="en/dictionary/control-change">Control (change)</a> <span class="sep">•</span> <a href="en/dictionary/control-notion">Control (notion)</a> <span class="sep">•</span> <a href="en/dictionary/cooperation-between-competition-authorities-en">Cooperation between competition authorities</a> <span class="sep">•</span> <a href="en/dictionary/coordinated-effects">Coordinated effects</a> <span class="sep">•</span> <a href="en/dictionary/copyright">Copyright</a> <span class="sep">•</span> <a href="en/dictionary/corruption">Corruption</a> <span class="sep">•</span> <a href="en/dictionary/cost-based-access">Cost-based access</a> <span class="sep">•</span> <a href="en/dictionary/cournot-nash-equilibrium">Cournot (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/criminal-sanctions">Criminal sanctions</a> <span class="sep">•</span> <a href="en/dictionary/cross-subsidisation">Cross subsidisation </a> </div> </div> </div> <div class="row entree" id="d"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">d</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/damages">Damages</a> <span class="sep">•</span> <a href="en/dictionary/de-minimis-notice">De minimis notice</a> <span class="sep">•</span> <a href="en/dictionary/digital-markets-act">Digital Markets Act</a> <span class="sep">•</span> <a href="en/dictionary/direct-effect">Direct effect</a> <span class="sep">•</span> <a href="en/dictionary/discriminatory-practices">Discriminatory practices</a> <span class="sep">•</span> <a href="en/dictionary/distribution-agreement">Distribution agreement</a> <span class="sep">•</span> <a href="en/dictionary/divestiture">Divestiture</a> <span class="sep">•</span> <a href="en/dictionary/dominance-notion">Dominance (notion)</a> <span class="sep">•</span> <a href="en/dictionary/downstream-market-117440">Downstream market</a> </div> </div> </div> <div class="row entree" id="e"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">e</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/echr">ECHR</a> <span class="sep">•</span> <a href="en/dictionary/economic-analysis">Economic analysis</a> <span class="sep">•</span> <a href="en/dictionary/economic-efficiency">Economic efficiency</a> <span class="sep">•</span> <a href="en/dictionary/economies-of-scale">Economies of scale </a> <span class="sep">•</span> <a href="en/dictionary/ecosystem-failures">Ecosystem Failures</a> <span class="sep">•</span> <a href="en/dictionary/effect-on-trade-between-member-states">Effect on trade between Member States</a> <span class="sep">•</span> <a href="en/dictionary/effective-judicial-protection">Effective judicial protection</a> <span class="sep">•</span> <a href="en/dictionary/effects-doctrine-118100">Effects doctrine</a> <span class="sep">•</span> <a href="en/dictionary/efta-surveillance-authority-esa-court">EFTA Surveillance Authority (ESA) & Court </a> <span class="sep">•</span> <a href="en/dictionary/environmental-protection-en">Environmental protection</a> <span class="sep">•</span> <a href="en/dictionary/error-costs-108946">Error costs</a> <span class="sep">•</span> <a href="en/dictionary/essential-facility">Essential facility</a> <span class="sep">•</span> <a href="en/dictionary/european-competition-network-ecn-en">European Competition Network (ECN)</a> <span class="sep">•</span> <a href="en/dictionary/excessive-prices-en">Excessive prices</a> <span class="sep">•</span> <a href="en/dictionary/exchange-of-information">Exchanges of information</a> <span class="sep">•</span> <a href="en/dictionary/exclusionary-practice">Exclusionary practice </a> <span class="sep">•</span> <a href="en/dictionary/Exclusive-distribution-12218">Exclusive distribution </a> <span class="sep">•</span> <a href="en/dictionary/exclusive-purchasing-en">Exclusive purchasing agreement</a> <span class="sep">•</span> <a href="en/dictionary/exclusive-right-art-106-tfeu">Exclusive right (Art. 106 TFEU)</a> <span class="sep">•</span> <a href="en/dictionary/exclusivity-clause">Exclusivity clause</a> <span class="sep">•</span> <a href="en/dictionary/Exhaustion">Exhaustion </a> <span class="sep">•</span> <a href="en/dictionary/Extra-territoriality">Extra-territoriality</a> </div> </div> </div> <div class="row entree" id="f"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">f</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Failing-firm-defence">Failing firm defence</a> <span class="sep">•</span> <a href="en/dictionary/fidelity-rebates">Fidelity rebates</a> <span class="sep">•</span> <a href="en/dictionary/Fine">Fine</a> <span class="sep">•</span> <a href="en/dictionary/fintech">Fintech</a> <span class="sep">•</span> <a href="en/dictionary/foreclosure-117887">Foreclosure</a> <span class="sep">•</span> <a href="en/dictionary/foreign-direct-investment-fdi">Foreign direct investment (FDI)</a> <span class="sep">•</span> <a href="en/dictionary/foreign-subsidies">Foreign Subsidies</a> <span class="sep">•</span> <a href="en/dictionary/form-co">Form CO (EU) </a> <span class="sep">•</span> <a href="en/dictionary/frand">FRAND</a> <span class="sep">•</span> <a href="en/dictionary/Free-riding">Free riding </a> </div> </div> </div> <div class="row entree" id="g"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">g</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/geographic-market">Geographic market</a> <span class="sep">•</span> <a href="en/dictionary/corporate-group">Group of undertakings</a> <span class="sep">•</span> <a href="en/dictionary/group-purchasing-organization">Group purchasing organization</a> <span class="sep">•</span> <a href="en/dictionary/guidelines-119080">Guidelines</a> <span class="sep">•</span> <a href="en/dictionary/gun-jumping">Gun jumping</a> </div> </div> </div> <div class="row entree" id="h"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">h</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/hard-core-restrictions">Hard core restrictions</a> <span class="sep">•</span> <a href="en/dictionary/Hearing-officer">Hearing officer </a> <span class="sep">•</span> <a href="en/dictionary/horizontal-agreement">Horizontal cooperation agreement</a> <span class="sep">•</span> <a href="en/dictionary/hsr-filing-us-108854">HSR Filing (US)</a> </div> </div> </div> <div class="row entree" id="i"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">i</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/independence-and-impartiality">Independence and impartiality</a> <span class="sep">•</span> <a href="en/dictionary/individual-exemption-86377">Individual exemption</a> <span class="sep">•</span> <a href="en/dictionary/industrial-policy">Industrial policy</a> <span class="sep">•</span> <a href="en/dictionary/intellectual-property-right-en">Intellectual property right</a> <span class="sep">•</span> <a href="en/dictionary/inter-brand-competition">Inter-brand competition </a> <span class="sep">•</span> <a href="en/dictionary/Interim-measures">Interim measures </a> <span class="sep">•</span> <a href="en/dictionary/international-co-operation">International co-operation </a> <span class="sep">•</span> <a href="en/dictionary/international-competition-network-icn">International competition network (ICN) </a> <span class="sep">•</span> <a href="en/dictionary/investigations-inquiries-en">Investigations / inquiries</a> </div> </div> </div> <div class="row entree" id="j"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">j</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/judicial-review">Judicial review</a> </div> </div> </div> <div class="row entree" id="k"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">k</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Know-how">Know-how </a> </div> </div> </div> <div class="row entree" id="l"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">l</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/legal-privilege">Legal privilege</a> <span class="sep">•</span> <a href="en/dictionary/Leniency-programme">Leniency</a> <span class="sep">•</span> <a href="en/dictionary/lerner-index">Lerner index</a> <span class="sep">•</span> <a href="en/dictionary/letter-of-formal-notice-118055">Letter of formal notice </a> <span class="sep">•</span> <a href="en/dictionary/licensing">Licensing</a> <span class="sep">•</span> <a href="en/dictionary/limitation-period-119083">Limitation Period </a> </div> </div> </div> <div class="row entree" id="m"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">m</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/margin-squeeze">Margin squeeze</a> <span class="sep">•</span> <a href="en/dictionary/marginal-costs">Marginal costs </a> <span class="sep">•</span> <a href="en/dictionary/market-economy-investor">Market economy investor</a> <span class="sep">•</span> <a href="en/dictionary/market-power">Market power</a> <span class="sep">•</span> <a href="en/dictionary/market-share">Market share </a> <span class="sep">•</span> <a href="en/dictionary/media-pluralism">Media pluralism</a> <span class="sep">•</span> <a href="en/dictionary/merger-notion-12318-en">Merger (notion)</a> <span class="sep">•</span> <a href="en/dictionary/merger-prohibition">Merger (prohibition)</a> <span class="sep">•</span> <a href="en/dictionary/merger-withdrawal-118046">Merger (withdrawal)</a> <span class="sep">•</span> <a href="en/dictionary/Merger-control-procedure">Merger control procedure </a> <span class="sep">•</span> <a href="en/dictionary/merger-remedies-100323">Merger remedies</a> <span class="sep">•</span> <a href="en/dictionary/minority-shareholdings-89176">Minority shareholdings</a> <span class="sep">•</span> <a href="en/dictionary/misinformation">Misinformation</a> <span class="sep">•</span> <a href="en/dictionary/mobility-barriers-117741">Mobility Barriers</a> <span class="sep">•</span> <a href="en/dictionary/Monopoly">Monopoly </a> </div> </div> </div> <div class="row entree" id="n"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">n</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/ne-bis-in-idem-86490">Ne bis in idem</a> <span class="sep">•</span> <a href="en/dictionary/negative-clearance-118047">Negative clearance</a> <span class="sep">•</span> <a href="en/dictionary/Network-effect">Network effect </a> <span class="sep">•</span> <a href="en/dictionary/non-compete-obligation-12156-en">Non-compete obligation </a> <span class="sep">•</span> <a href="en/dictionary/non-horizontal-mergers">Non-Horizontal Mergers </a> <span class="sep">•</span> <a href="en/dictionary/notification-12310">Notification</a> <span class="sep">•</span> <a href="en/dictionary/nullity">Nullity </a> </div> </div> </div> <div class="row entree" id="o"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">o</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/oligopoly">Oligopoly </a> <span class="sep">•</span> <a href="en/dictionary/online-platforms">Online Platforms</a> </div> </div> </div> <div class="row entree" id="p"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">p</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/parallel-imports-parallel-trade-en">Parallel imports (parallel trade)</a> <span class="sep">•</span> <a href="en/dictionary/passing-on-en">Passing-on</a> <span class="sep">•</span> <a href="en/dictionary/Passive-sales">Passive sales </a> <span class="sep">•</span> <a href="en/dictionary/patents">Patents</a> <span class="sep">•</span> <a href="en/dictionary/pay-for-delay">Pay-for-delay</a> <span class="sep">•</span> <a href="en/dictionary/periodic-penalty-payment">Periodic penalty payment</a> <span class="sep">•</span> <a href="en/dictionary/potential-competition">Potential competition </a> <span class="sep">•</span> <a href="en/dictionary/predatory-pricing">Predatory pricing</a> <span class="sep">•</span> <a href="en/dictionary/preliminary-rulings-art-267-tfue">Preliminary ruling (Art. 267 TFUE) </a> <span class="sep">•</span> <a href="en/dictionary/price-discrimination-en">Price discrimination </a> <span class="sep">•</span> <a href="en/dictionary/price-leadership">Price leadership</a> <span class="sep">•</span> <a href="en/dictionary/price-signaling">Price signalling</a> <span class="sep">•</span> <a href="en/dictionary/price-fixing-agreement">Price-fixing agreement</a> <span class="sep">•</span> <a href="en/dictionary/prices-en">Prices</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equal-treatment">Principle of equal treatment</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equivalence">Principle of equivalence</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-proportionality">Principle of proportionality</a> <span class="sep">•</span> <a href="en/dictionary/privacy-and-data-protection">Privacy and data protection</a> <span class="sep">•</span> <a href="en/dictionary/private-enforcement">Private enforcement</a> <span class="sep">•</span> <a href="en/dictionary/privatization-en">Privatization</a> <span class="sep">•</span> <a href="en/dictionary/procedural-autonomy">Procedural autonomy</a> <span class="sep">•</span> <a href="en/dictionary/professional-association-86373-en">Professional association</a> <span class="sep">•</span> <a href="en/dictionary/public-procurement">Public procurement</a> <span class="sep">•</span> <a href="en/dictionary/Public-undertaking">Public undertaking</a> </div> </div> </div> <div class="row entree" id="r"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">r</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/r-d-agreement">R&D agreement</a> <span class="sep">•</span> <a href="en/dictionary/case-referral-system-mergers">Referral (merger)</a> <span class="sep">•</span> <a href="en/dictionary/refusal-to-deal">Refusal to deal</a> <span class="sep">•</span> <a href="en/dictionary/the-registry-of-the-general-court-of-the-european-union">Registry of the General Court of the European Union</a> <span class="sep">•</span> <a href="en/dictionary/Relevant-market">Relevant market</a> <span class="sep">•</span> <a href="en/dictionary/remedies-antitrust-en">Remedies (antitrust)</a> <span class="sep">•</span> <a href="en/dictionary/request-for-information">Request for information</a> <span class="sep">•</span> <a href="en/dictionary/resale-below-cost-en">Resale below cost </a> <span class="sep">•</span> <a href="en/dictionary/resale-price-maintenance-rpm">Resale price maintenance (RPM)</a> <span class="sep">•</span> <a href="en/dictionary/restriction-on-exportation">Restriction on exportation </a> <span class="sep">•</span> <a href="en/dictionary/rule-of-reason">Rule of reason</a> </div> </div> </div> <div class="row entree" id="s"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">s</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/sunk-costs-117836"> Sunk Costs </a> <span class="sep">•</span> <a href="en/dictionary/sector-inquiry">Sector inquiry</a> <span class="sep">•</span> <a href="en/dictionary/selective-distribution">Selective distribution </a> <span class="sep">•</span> <a href="en/dictionary/self-preference-111802">Self-Preference</a> <span class="sep">•</span> <a href="en/dictionary/Services-of-general-economic">Services of general economic interest </a> <span class="sep">•</span> <a href="en/dictionary/Single-branding">Single branding </a> <span class="sep">•</span> <a href="en/dictionary/sole-control">Sole control</a> <span class="sep">•</span> <a href="en/dictionary/specialization-agreements">Specialization agreements </a> <span class="sep">•</span> <a href="en/dictionary/Spill-over-effects">Spill-over effects </a> <span class="sep">•</span> <a href="en/dictionary/standard-essential-patent-sep">Standard-Essential Patent (SEP)</a> <span class="sep">•</span> <a href="en/dictionary/state-action-defense">State action defence</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-compatibility">State aid (compatibility)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-existing-aid">State aid (existing aid) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-notification-en">State aid (notification)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid">State aid (notion)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-recovery">State aid (recovery) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-unlawful-aid">State aid (unlawful aid) </a> <span class="sep">•</span> <a href="en/dictionary/State-measure">State measure </a> <span class="sep">•</span> <a href="en/dictionary/Statement-of-objections-SO">Statement of objections (SO) </a> <span class="sep">•</span> <a href="en/dictionary/Substitutability">Substitutability </a> <span class="sep">•</span> <a href="en/dictionary/sustainability">Sustainability</a> <span class="sep">•</span> <a href="en/dictionary/switching-costs">Switching Costs</a> </div> </div> </div> <div class="row entree" id="t"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">t</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/technology-transfer">Technology transfer</a> <span class="sep">•</span> <a href="en/dictionary/test-siec-merger-en">Test SIEC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/merger-slc-src-sdc-tests">Test SLC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/tipping">Tipping</a> <span class="sep">•</span> <a href="en/dictionary/business-secrets">Trade Secrets</a> <span class="sep">•</span> <a href="en/dictionary/trademark">Trademark</a> <span class="sep">•</span> <a href="en/dictionary/trustee-mergers-en">Trustee (mergers)</a> <span class="sep">•</span> <a href="en/dictionary/turnover-threshold-merger">Turnover threshold (merger)</a> <span class="sep">•</span> <a href="en/dictionary/two-sided-market">Two-sided market</a> </div> </div> </div> <div class="row entree" id="u"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">u</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/undertaking-notion">Undertaking (notion)</a> <span class="sep">•</span> <a href="en/dictionary/unfair-competition">Unfair competition</a> <span class="sep">•</span> <a href="en/dictionary/universal-service-118054">Universal Service</a> <span class="sep">•</span> <a href="en/dictionary/upstream-market">Upstream market </a> </div> </div> </div> <div class="row entree" id="v"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">v</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/variable-costs">Variable costs </a> <span class="sep">•</span> <a href="en/dictionary/Vertical-agreement">Vertical agreement</a> <span class="sep">•</span> <a href="en/dictionary/vertical-restraints-or-restrictions">Vertical restraints (or restrictions)</a> </div> </div> </div> <div class="row entree" id="w"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">w</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/White-clause">White clause</a> <span class="sep">•</span> <a 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