Competition encourages companies to offer consumers goods and services on the most favourable terms. It encourages efficiency and innovation and reduces prices. To be effective, competition requires companies to act independently of each other, but subject to the pressure exerted by their competitors.
EU Antitrust policy is developed from Articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU).
Article 101 prohibits anti-competitive agreements between two or more independent markte operators.
Article 102 prohibits abusive behaviour by companies holding a dominant position on any given market.