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EU regulators checking if Vivendi jumped gun in Lagardere acquisition

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BRUSSELS :EU antitrust regulators are checking whether French media conglomerate Vivendi closed its acquisition of French publisher Lagardere deal before securing regulatory approval, the European Commission said on Thursday.Such so-called gun jumping can result in fines of up to 10 per cent of a company's gr

BRUSSELS :EU antitrust regulators are checking whether French media conglomerate Vivendi closed its acquisition of French publisher Lagardere deal before securing regulatory approval, the European Commission said on Thursday.

Such so-called gun jumping can result in fines of up to 10 per cent of a company's group aggregate turnover. The EU antitrust watchdog has in recent years cranked up fines for such offences as a deterrent."The Commission was made aware of allegations of gun jumping, which have been reported in the press. The Commission can confirm that it is looking into the matter," the EU executive said in an email.The EU competition enforcer last week cleared the deal with conditions.

 

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