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Merger Control Austria: Modified Merger Thresholds And New Substantive Test, As Well As Intensified FDI Screening Under The Amended Austrian Cartel Act - Anti-trust/Competition Law
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Table of Contents
UK Publishes Details of New Subsidy Control Regime
EU and UK Reviews of Rules on Vertical Agreements Continue Apace
European Commission Warns Against Restricting Access to Data Sharing Systems
Check Merger Control Filing Obligations Worldwide: Austria Fines Facebook
The scope and complexity of merger control filing requirements worldwide continue to increase. It is essential to carry out a full review for any acquisition, joint venture or minority investment whether it relates to a corporate entity or assets.
This was demonstrated on 7 June 2021 when the Austrian Federal Competition Authority (AFCA) announced that it is seeking agreement from the Austrian Cartel Court to impose a fine on Facebook for not filing its acquisition of GIPHY under Austrian merger control law. Facebook should have filed and waited for clearance before closing the transaction. The company has agreed to settle the investigation and pay a EUR 9.6 million fine.
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On 9 April 2021, the Austrian Federal Competition Authority (AFCA) filed another application with the Cartel Court to impose fines on seven companies from an Austrian construction group for taking part in the construction cartel.
Europe Austria
The AFCA suspects these companies of having been part of an Austria-wide cartel in the construction sector. The alleged anti-competitive arrangement covers several thousand tenders, with most of the individual contract volumes ranging from EUR 50 000 to EUR 60 million.
The cartel extended to the whole of Austria. The companies concerned are not cooperating under the leniency programme.
The alleged cartel existed between at least 2002 and 2017. More than 40 construction companies are suspected of having taken part in the cartel.