Emerging theories of harm and trends in merger control

RBB’s Etienne PfisterEtienne PfisterPartner will speak at the Concurrences global merger conference in Paris on 5 December. He will join a panel reviewing the rise of new theories of harm in competition cases.

Panel description

Competition authorities are adopting emerging theories of harm to address changing market dynamics. The Booking/eTraveli case signals a shift in the European Commission’s approach to conglomerate mergers, with Booking’s appeal before the General Court expected to provide further clarity.

In the US, transactions such as Tapestry/Capri and Kroger/Albertsons reflect increasing scrutiny of labour market effects. Cases including Meta/Giphy and Microsoft/Activision show how regulators are widening their focus to dynamic competition, innovation, control of key assets and data access. The Draghi report highlights the need to streamline these developing theories and enforcement tools.

Most recently, the CMA chose not to review the Microsoft/OpenAI partnership, raising questions about the scope of merger control in digital markets.

Full details are available on the Concurrences event page.