Following media reports alleging that Vivendi violated EU rules by violating its “standstill” agreement and engaging in Lagardere’s business affairs prior to the closing of the merger, the European Commission “has decided to open a formal investigation.” They note that, “An opening of a formal investigation does not prejudge its outcome.” But, as EC antitrust head Margrethe Vestager states in the release, “At this stage, the Commission has gathered sufficient elements to open a formal investigation to determine whether Vivendi has complied with our procedures.” She notes: “Our ex-ante merger control regime, requires that companies notify transactions with an EU […]
