Overview   Publication

The fourth issue of 2026 includes the following articles: "Cleared for Take-Off, Subject to Conditions" (looking at the Commission’s conditional approval of Boeing’s acquisition of Spirit AeroSystems following a Phase I investigation) ; and "M.11939 FrieslandCampina/Milcobel – A dairy tale" (which covers the Commission’s first assessment of a merger between dairy cooperatives in the context of a sustained milk shortage, following an in-depth investigation into the dairy sector in Belgium and the Netherlands.)

The European Commission has published its Report on competition policy for 2025. The report presents the main legislative initiatives and policy developments of 2025, as well as a selection of enforcement actions, to citizens, businesses and the competition policy community.

A paper co-authored by DG Competition has been featured among this year’s winners in the academic category “Concerted Practices” at the Concurrences Antitrust Writing Awards. The awarded article, “Public Communication and Collusion: New Screening Tools for Competition Authorities,” explores how innovative analytical tools can help detect collusive behavior in public corporate statements.

On 13 January 2026, the Commission published its first Guidelines under the Foreign Subsidies Regulation. These Guidelines clarify key concepts of the FSR. The present brief provides explanations of the key concepts of the FSR Guidelines, and how the they will apply in investigations. However, the Brief does not address the parts of the Guidelines concerning public procurement.

The Commission unconditionally cleared Mars' USD 36 billion acquisition of Kellanova following an in- depth Phase II investigation.
The investigation focused on a bargaining theory of harm, namely whether combining Mars' brands with Kellanova's salty snacks (Pringles) and cereals (Kellogg's) brands would give the merged entity excessive leverage in negotiations with retailers, potentially leading to higher consumer prices.

This Study supports the revision of the EU Guidelines on State Aid to Airports and Airlines in light of evolving market dynamics, the impact of COVID-19, and the challenges of the green transition for the European aviation sector. Evidence was collected through literature review, data analysis, stakeholder consultations, and six case studies. The findings show that profitability remains a structural challenge for regional airports (i.e. airports with annual passenger traffic volume of up to 3 million passengers per year): only about 54% of European regional airports that the Study has sampled were cost-covering in 2024 (figures reported by EU airport associations are even lower).

Following a request by the Luxembourg competition authority pursuant to Article 22 of the EU Merger Regulation, the European Commission conducted an expost review of the acquisition of Boissons Heintz by Brasserie Nationale.
The Transaction was cleared in Phase I, subject to the divestiture of Boissons Heintz’s on-trade activities. This divestment business has been acquired by a Belgian wholesaler, Brasserie Maziers, that the Commission approved. This remedy enables Brasserie Maziers to enter into Luxembourg and contributes to the further integration of the internal market.

The timeline for our policy objectives 2024–2029 is now updated. It offers a clear view of what lies ahead for competition policy.

The third issue of 2025 includes the following articles: SES/Intelsat - Merger Control in a Changing Satellite Market; UniCredit/Banco BPM - A Shakespearian drama; and Liberty Media/Dorna Sports - How to avoid going round in circles (on market definition).

The Commission conditionally approved the acquisition by e& of PPF telecom’s activities in Bulgaria, Hungary, and Slovakia, in what is the first decision with commitments under the FSR.
The acquirer offered commitments to comply with ordinary UAE bankruptcy rules and thus exclude any unlimited State guarantee, and to ensure that no subsidised financing will be channelled to the internal market through commercial or financial links between the acquirer and the Target.
The decision shows that effective solutions can be successfully proposed by the parties in a timely fashion to remedy distortive foreign subsidies.

In the context of the evaluation of Regulation 1/2003, some stakeholders argued that the principles set out in the Court of Justice’s 2010 Akzo judgment should be revisited so that in-house lawyer correspondence can benefit from legal professional privilege. This Competition Policy Brief examines the arguments raised. It finds no reason to depart from the wellestablished principles in the case-law.

The European Commission has published a Staff Working Document analysing how the Clean Industrial Deal State Aid Framework (CISAF) contributes to accelerating investments required to achieve Clean Deal objectives.
The document explains how the respective sections of the CISAF allow Member States to provide the necessary support to attain the objectives set by the Clean Industrial Deal and why the Commission has chosen certain safeguards to ensure a level playing field in the Single Market. It also explains how the CISAF limits administrative requirements for Member States and economic operators alike. 

The second issue of 2025 includes the following articles: Broadcom/VMware – the importance of speaking the same language; Korean Air/Asiana – a race for cargo space; Buying Ansys - A Synopsys of a chip design story; International Paper / DS Smith – Blurred Lines in a Square-Box Deal; Constantia / Aluflexpack – Unpacking comPETition concerns; Safran/Collins – Remove Concerns Before Flight.

This study, commissioned by the European Commission's Directorate-General for Competition (DG COMP), evaluates the 2008 Guarantee Notice, in line with the Commission’s Better Regulation principles. Key findings from the study highlight a substantial variation in guarantee pricing across Member States, reflecting differing risk assessments and market conditions. Evidence suggests that current pricing methods generate lower guarantee prices compared to market benchmarks suggesting that there is significant room for enhancement to better reflect the risk profiles of beneficiaries and to streamline administrative processes.
The study also explores the impact of guarantees on access to finance, market competition and efficiency, revealing that guarantees generally improve access to finance without significantly distorting market competition. Overall, the study provides insights on the regulatory framework governing financial guarantees, emphasizing the need for clearer guidelines to enhance consistency and effectiveness across the EU.

The ongoing revision of the 2014 Technology Transfer Block Exemption Regulation (TTBER) and the accompanying TT-Guidelines, required due to the expiry of the current TTBER in 2026, dovetails with the European Commission’s efforts to modernise the legal framework governing technology licensing within the internal market. The competition law regime/framework for data licensing agreements is particularly important in this context.

In this episode of the Antitrust Code podcast by Concurrences, Maria Jaspers (European Commission) and Despina Pachnou (OECD) discuss key themes from the Compendium of International Cartels book, published by Concurrences.
They examine leniency programs, looking at their effectiveness in detecting cartels and the challenges they present.

In the period March 2022 to June 2024, nearly €796 billion of aid was approved either under the Temporary Crisis and Transition Framework or directly under the Treaty and based on TCTF principles. Around €219 billion was actually granted to companies, representing 27% of the aid approved and corresponding to 0.5% of EU27 GDP in 2022, 2023 and the first half of 2024.
These figures do not include sizeable support measures taken by several Member States to support their economy and households that do not qualify as State aid.
See also Statistical annex.

The first issue of 2025 includes the following articles: Cooper / Viatris – Divestiture remedy to unclog constipation and earwax competition concerns; Eiffage / EQOS – Avoiding a (market) power surge along the track; JD Sports / Groupe Courir – Taking a step in the right direction; Novo Holdings / Catalent – Novo takes a big bite.

The European Commission has published today its Report on competition policy for 2024. The report presents the main legislative initiatives and policy developments in 2024, as well as a selection of important enforcement actions.
The Report highlights the role of competition policy in strengthening the Single Market, where businesses can make the most of Europe's scale to develop strong and competitive industries to the benefit of European citizens. It also shows how competition policy has helped supporting industrial policy objectives, in line with the Commission's political priorities, while protecting and empowering consumers.
The Report, together with the accompanying Staff Working Document, which includes a comprehensive overview of policy developments and enforcement actions sector-by-sector, will be available here.

The Commission adopted today its second Digital Markets Act (‘DMA') annual report.
The report describes the measures taken from January to December 2024 to ensure effective enforcement of the DMA and achieving fairness and contestability in the internal market's digital sector.