Altice was fined €80 million for jumping the gun when it acquired SFR and Virgin Mobile/OTL in 2014.

Please note that this Client Alert is based on the press release published by the French Competition Authority.

Summary -

On 8 November 2016 the French Competition Authority (FCA) imposed a hefty fine on Altice for implementing two acquisitions in the telecoms sector before obtaining merger control clearance. This ground-breaking FCA decision serves as a reminder that merging companies must continue to compete and conduct their business independently until they have received antitrust clearances. Robust internal processes implemented in the period between signing and closing can prevent competition law infringements and fine exposure.