Suez has lodged an appeal with Europe’s second-top court after EU antitrust regulators rebuffed its bid to declare illegal Veolia’s purchase of a further 29.9% stake in the French water and waste management company.
Suez filed its appeal at the Luxembourg-based General Court on February 25, according to a filing on the court website.
“Suez respectfully disagreed with the European Commission’s decision and seeks to annul the decision,” a person familiar with the matter said.
It is likely to take months before the General Court holds a hearing and issues a judgment. The EU competition enforcer had dismissed Suez’s arguments in a December 17, 2020, finding.
Veolia already owns 29.9% of Suez and is seeking to acquire the entire company. It is in informal discussions with the EU regulator before formally requesting approval for its bid, which Suez has rejected on the grounds that the merger of two of the largest players in the sector would significantly reduce competition and hold back innovation.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI