A UK appeals court has upheld a ruling by competition authorities that Intercontinental Exchange must sell Trayport, an energy software trading platform it bought for $650m more than a year ago.
The Competition Appeal Tribunal said late on Monday it backed a ruling by the UK antitrust watchdog that the deal could curb competition in the European energy trading market.
The Competition and Markets Authority’s ruling against ICE last October was the first time the CMA had demanded a company sell an asset it had already bought since the watchdog replaced the merged Office of Fair Trading and Competition Commission in 2014.
In a statement on Monday ICE said it was disappointed by the CAT ruling. “We will review the CAT’s judgment and consider our options, including the possibility of a further appeal to the Court of Appeal,” it said.
Full Content: Mondo Visione
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 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