EU regulators are examining whether Vivendi, a French media conglomerate, violated antitrust rules by finalizing the acquisition of Lagardere, a French publisher, before obtaining regulatory approval.
The European Commission stated that this type of action, known as “gun jumping,” can lead to fines of up to 10% of a company’s total group turnover. In recent years, the EU antitrust watchdog has increased fines for such violations as a deterrent.
While the Commission has been made aware of these allegations through media reports, no formal investigation has been initiated yet. In an email statement, the EU executive confirmed “The Commission was made aware of allegations of gun jumping, which have been reported in the press. The Commission can confirm that it is looking into the matter.”
Last week, the EU competition enforcer approved the deal between Vivendi and Lagardere with certain conditions. It’s important to note that infringement proceedings are separate from the merger review process.
In response to the investigation, Vivendi stated in an email, “It is not Vivendi’s policy to comment on current or future investigations. Nevertheless, Vivendi has scrupulously complied with the rules and will continue to do so until the remedies have been implemented.”
