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United Kingdom
EU competition round-up: CJEU on Article 101 information exchange 'by object'; State aid (Austrian Airlines upheld; Finnish bus annulled); Commission publications; hydrogen aid approvals; merger notifications
Published on: 29 July 2024
Published by a LexisNexis Competition expertLegal News
Article summary
Antitrust 10-year information exchange between credit institutions can constitute by object restriction
The Court of Justice has handed down its judgment in Case C‑298/22, Banco BPN v BIC Português and Others, following a national reference from Portugal requesting clarification on whether, and in what circumstances, an exchange of information is to be treated as a restriction by object under Article 101 TFEU. By way of background, on 9 September 2019 the Portuguese Competition Authority (AdC) imposed fines on a number of banks for engaging in a standalone exchange of information — that is, not ancillary to any cartel — in breach of Article 101 TFEU and the equivalent domestic provisions. The AdC classified those contacts as restrictions by object. The applicants appealed before the national courts, culminating in a national reference to the Court of Justice on 4 May 2022. In answering the question posed, the Court held that a standalone exchange of confidential information between competitors may, in itself, constitute a restriction by object. In the Court’s view, the information sharing under scrutiny reflects a form of coordination which, by its very nature, harms normal competition. Accordingly, such conduct amounts to coordination antithetical to normal competition as assessed in the case...
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