FILE PHOTO: An advertising board is seen during the first demonstration of the technology 5G in Lisbon, Portugal June 4, 2018. REUTERS/Rafael Marchante
September 22, 2021
BRUSSELS (Reuters) – Europe’s second-highest court on Wednesday rejected French telecoms provider Altice’s challenge against a 125-million-euro ($146.7 million) fine imposed by EU antitrust regulators for closing its PT Portugal deal early six years ago.
The Luxembourg-based General Court however reduced the fine by 6.22 million euros because Altice had told the European Commission of its bid and after signing the deal had requested the EU competition enforcer to allocate a team to review the case.
Gun jumping is a major offence under EU merger rules, with fines for violations up to 10% of a company’s global turnover
The case is T-425/18 Altice Europe v Commission.
($1 = 0.8522 euros)
(Reporting by Foo Yun Chee)
Source: One America News Network
