International merger control update: UK national security thresholds, Ireland simplified procedure, Zimbabwe thresholds, Channel Islands separate authorities, global gun-jumping fines and FDI (June–July 2020)
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In recent weeks, authorities have unveiled reduced notification thresholds in the UK for additional markets touching on national security, parallel reductions in Zimbabwe, the commencement of the new simplified notification procedure in the Republic of Ireland, and a return in Guernsey and Jersey to separate competition authorities.
UK—revised notification thresholds for additional national security sectors to be introduced
The UK intends to amend the notification thresholds for certain further sectors with national security implications, specifically the development, production or research of:
- artificial intelligence
- cryptographic authentication
- advanced materials
For these sectors alone, the 25% share of supply threshold will be modified so that it can be satisfied solely by the target’s activities, and the alternative target turnover threshold will be lowered to £1m (from £70m). The amendments are expected to take effect within the next two to three months.
The UK government has also introduced a power to intervene on public interest grounds in relation to transactions that affect the UK’s ability to respond to a public health emergency such as coronavirus (COVID-19).
Comment: The proposed changes to the notification thresholds follow a similar change in...
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