Green Light for Media Merger: RTL / Sky Passes Unconditionally
The European Commission (“Commission”) has unconditionally approved RTL Deutschland’s acquisition of Sky German, finding no competition concerns in the European Economic Area. The transaction brings together two vertically integrated players active across the audiovisual value chain, including content production, broadcasting, streaming and advertising, primarily in German-speaking markets.
The Commission’s assessment focused on multiple markets such as content acquisition, wholesale TV supply, retail audiovisual services and advertising. Despite overlaps, the Authority concluded that the parties are not close competitors and that sufficient alternative players remain across all levels. In particular, strong competitive pressure from global streaming platforms was identified as a key constraint, limiting any potential increase in buyer power or market concentration.
Notably, although RTL offered commitments regarding potential concerns in advertising markets, the Commission ultimately found these unnecessary and the deal was therefore cleared unconditionally.
Remedy Failure Sends Bakery Deal to Deep Probe
The Competition and Markets Authority (“CMA”) has referred Vandemoortele’s acquisition of Délifrance to an in-depth investigation after proposed remedies failed to materialise. Although the CMA had previously indicated that the divestment of two French production facilities (Avignon and Béthune) could address competition concerns, Vandemoortele did not submit an approved purchaser within the required timeframe.
The CMA found that the transaction could significantly strengthen Vandemoortele’s position in the UK market for frozen viennoiserie products -such as croissants and pains au chocolat-potentially making it the largest supplier by a wide margin. This raised concerns about reduced competition, including risks of higher prices or diminished quality for supermarket and foodservice customers.
The parties had proposed a broader remedy package, including the sale of Délifrance’s UK laminated dough business alongside the production facilities. However, in the absence of a concrete divestment buyer, the CMA has escalated the case. The Phase II investigation will now be conducted by an independent panel.
Canada’s Investigation Signals Rising Energy Market Concerns
The Competition Bureau Canada has obtained a Federal Court order to compel the production of information as part of its ongoing review of Keyera’s proposed acquisition of Plains’ Canadian natural gas liquids business. The order requires Inter Pipeline -another player in the Canadian oil & gas industry- to provide records relevant to the investigation, signalling an escalation in the Bureau’s evidence-gathering process.
The transaction concerns key midstream activities including transportation, fractionation, storage and marketing of natural gas liquids. The Bureau is assessing whether the deal could substantially lessen or prevent competition, including by raising barriers to entry or strengthening Keyera’s position in energy infrastructure markets.
The case highlights competition concerns in concentrated energy infrastructure markets, where control over essential facilities may impact both upstream and downstream competition. The Bureau’s use of court powers underscores the importance of third-party data in evaluating potential competitive effects in complex industrial transactions.
Italian Authority Targets Supplier Coordination in Retail Food Chains
The Italian Competition Authority has fined Amica Chips, Pata and Preziosi Food a total of EUR 23.3 million for participating in a market-sharing cartel in the private label savoury snacks segment.
The Authority found that the companies coordinated their commercial strategies when supplying snacks to large retailers, effectively dividing the market among themselves. The case also stands out as the first use of the authority’s settlement procedure, with additional fine reductions granted alongside leniency for cooperating parties.
Algorithm Under Watch: Brazil Targets Fuel Pricing Software
The Administrative Council for Economic Defense (“CADE”) has approved a settlement agreement with Intelprice in an investigation into the use of pricing software in the fuel retail market. The probe focused on concerns that such tools could facilitate price alignment among gas stations.
Under the agreement, Intelprice committed to increasing transparency around its pricing algorithm and implementing robust compliance measures, including stricter data separation, confidentiality safeguards and the appointment of a compliance coordinator. The company also agreed to cooperate with ongoing investigations and temporarily refrain from entering new contracts until the measures are in place.
The proceedings will remain suspended while CADE monitors compliance with the agreed commitments.
Japan’s Updated Report on Generative AI
The Japan Fair Trade Commission (“JFTC”) has published Report Regarding Generative AI ver. 2.0, following its October 2024 discussion paper. The report updates the JFTC’s assessment of the sector by structuring the generative AI market into three layers: infrastructure, models and applications.
The JFTC highlights the continued importance of computing resources, data and specialized talent, while noting active competition among big tech companies and the growing integration of generative AI into existing digital services, including through AI agents. From an antitrust perspective, the report focuses on potential exclusionary risks, such as restrictions on mobile OS software access, tying of generative AI with existing digital services, and limitations on API connections for competing AI models. It also signals continued monitoring of self-preferencing, AI-enabled parallel conduct and talent acquisitions through partnerships.
