EU wants feedback on review of mergers process
The European Commission has launched a public consultation on a continuing review of its merger guidelines.
The merger guidelines describe the framework that the commission applies when assessing the competitive impact of mergers on markets.
The commission says that there have been several “transformational changes” in the economy, ranging from digitalisation and globalisation to decarbonisation, since the last set of guidelines were issued.
The EU body says that the review is focusing on how its assessment should take into account factors such as innovation, efficiency, resilience, the time horizons and investment intensity of competition in certain strategic sectors, sustainability, the changed defence and security environment, and “other acute transformational needs of our times”.
Papers
The commission is seeking feedback from any interested citizen, business, or association through a general public consultation questionnaire. The deadline for replies is 3 September.
The EU body has also published seven papers that elaborate on a range of current issues and on the legal and economic parameters used in its merger-control assessment.
It says that the papers are aimed at stimulating discussion and cover topics that are key for the EU economy, including:
- Competitiveness and resilience,
- Market power,
- Innovation,
- Decarbonisation,
- Digitalisation,
- Efficiencies, and
- Defence and labour considerations.
'Unique opportunity'
The commission is also inviting technical feedback on these papers – also with a deadline of 3 September.
Teresa Ribera, the commissioner with responsibility for competition, described the review as “a unique opportunity” to modernise the EU’s framework for assessing the impact of mergers on competition.
“It will allow us to account for disruptive changes in our societies and our economies over the past 20 years,” she added.