On 21 February, the European Commission (Commission) determined that Hungary’s decision to block the acquisition of the Hungarian subsidiaries of Aegon Group by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) constituted a breach of Article 21 of the EU Merger Regulation (EUMR) (Decision).

The Decision is of material significance as it marks the first time in 15 years that the Commission has used Article 21 EUMR.