Economy, finance, tax and competition, Press Conference, European Commission
On 9 July 2014, the European Commission adopts the White Paper "Towards more effective EU merger control" suggesting possible improvements to the EU merger control rules, ten years after the entry into force of the revised EU Merger Regulation in 2004. The 2004 reform has worked well and has contributed to a more efficient and predictable merger regime in the EU. On the other hand, experience form the last 10 years also shows that some improvements could be envisaged. The White Paper starts a public consultation of stakeholders on these proposals.
The changes proposed in the White Paper would allow the Commission to better address potential sources of harm for competition and consumers by also reviewing certain acquisitions of non-controlling minority shareholdings that could be problematic from a competition point of view, without creating undue additional burden on businesses. In addition, options are proposed to simplify the current Merger Regulation by cutting red tape for businesses, for example by further simplifying the procedure for non-problematic cases and by streamlining the case referral system from Member States to the Commission so that it can better and faster achieve its objective to ensure that merger cases are dealt with by the most appropriate authority. Finally, the White paper takes stock of the use of the current EU merger control rules and generally reflects on ways to improve coherence and convergence between merger control rules and practice on EU and Member State level.
Vice-president Joaquín Almunia, the European Commissioner for Competition, will present the main elements of the proposals in a press conference in the Commission's press room. A press release and other documents will be available on the day.