This one is a bit of a head scratcher. A European Court has struck down a 2004 European Commission decision that had allowed investment group Wendel to buy part of the Editis publishing assets for 660 million euros as part of Lagardere’s acquisition of Editis. At the same time, the court affirmed that Lagardere’s purchase of Editis was acceptable. They said the trustee who oversaw the report on Wendel’s purchase was not sufficiently independent. “The establishment of this illegality is such as to vitiate the lawfulness of the approval decision.” It’s not exactly clear what happens next. Reuters says “the […]
