Competition weekly news summary
28 June 2013


Conferences and Speeches

  • 5O years of competition enforcement in Spain
    Comisión Nacional de Competencia, Madrid, Joaquín Almunia
    27 June 2013
    Commissioner Almunia spoke in Madrid at an event celebrating 50 years of competition control in Spain. He praised the work of the national authority, the Comisión Nacional de la Competencia, one of the most active members of the European Competition Network. The Commissioner went on to explain how competition authorities can respond to the difficult market conditions determined by the prolonged recession through selected enforcement priorities and policy changes. Examples of the former are current cartel investigations in oil markets and the financial sector, which can cause systemic harm to the economy. As to the evolution of policies, he referred to the state aid regime for banks in distress and the project to reform procedural aspects of merger control. These adjustments and developments, concluded Commissioner Almunia, “translate into practice my deep-seated belief that the work of competition authorities – national and European – is essential for Europe to take the path of recovery and growth”.
    Read full speech in Spanish>

Competition

  • Commission appoints new competition chief economist
    27 June 2013
    The Commission has appointed Massimo MOTTA as new competition chief economist. M. Motta is a Research Professor at the Barcelona Graduate School of Economics and at the ICREA-Universitat Pompeu Fabra, also in Barcelona. He will replace Kai-Uwe KÜHN on 1 September 2013.

Mergers

  • Commission approves acquisition of NYSE Euronext by InterContinental Exchange
    24 June 2013
    The Commission has cleared the proposed acquisition of NYSE Euronext (NYX) by the InterContinental Exchange (ICE). NYX and ICE operate exchanges providing trading and clearing services, particularly in the field of derivatives. The Commission's investigation confirmed that the proposed transaction would not raise competition concerns as NYX and ICE are not direct competitors in the markets concerned and would continue to face competition from a number of other players.
    Read more >

State aid

  • Commission approves Portuguese Guarantee Scheme on EIB lending
    27 June 2013
    The Commission has approved a new Portuguese scheme providing State guarantees for banks that guarantee European Investment Bank (EIB) loans granted to companies in Portugal. The scheme will allow participating banks to continue acting as guarantors for both existing and new EIB loans without compromising their liquidity position. As the scheme ensures that participating banks do not derive any undue advantage from the State guarantee, it is in line with EU state aid rules.
    Read more >

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Published by the Competition Directorate General of the European Commission. The content of this publication does not necessarily reflect the official position of the European Commission. Neither the Commission nor any person acting on its behalf is responsible for the use which might be made of the above information.

© European Union, 2013. Reproduction is authorised provided the source is acknowledged.

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