EU to investigate if Vivendi breached merger rules on Lagardere deal
25/07/2023 16:45
BRUSSELS, July 25 (Reuters) - EU antitrust regulators on
Tuesday opened an investigation into whether French media
conglomerate Vivendi VIV.PA infringed merger rules when it
acquired French publisher Lagardere LAGA.PA .
The investigation will focus on whether Vivendi breached the
notification requirement and standstill obligation as well as
the conditions and obligations attached to the Commission's
decision to clear the Vivendi and Lagardere transaction, the
European Commission said in a statement.
Such so-called gun-jumping can lead to a fine as much as 10%
of Vivendi's aggregated turnover. The EU executive gave the
green light to the deal last month.
(Reporting by Foo Yun Chee)
((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))