EU competition law regulates the operation of undertakings in the internal market with a view of pursuing the goals of consumer welfare, the functioning of the internal market, and the protection of free competition. One of the pillars of EU competition law is the regulation of concentrations in the EUMR, which provides for prior control of concentrations between undertakings with a Union dimension. The competition law assessment of concentrations is based on objective findings supported by economic analysis of the impact of concentration on effective competition in the internal market or in a substantial part of it, and does not take into account political or other goals that would dictate permitting anti-competitive concentrations.
Contrary to the aforementioned theoretical basis of EU competition law, the Franco-German Manifesto seeks to reform the EUMR in order to take greater account of the objectives of the common industrial policy in assessing concentrations and consequently to allow for certain anti-competitive concentrations in order to facilitate the development of European champions.
The Master's Thesis critically examines the proposal for the reform of the EUMR from the point of view of its legal necessity for the development of European champions and the compliance of the proposed changes to the EUMR with the acquis. The findings of the Master's Thesis show that the current regulation of concentrations in the EUMR already allows for mergers of undertakings with a view of merging into European champions, as evidenced by many existing European champions created by concentrations, and that the inclusion of some of the proposed changes in the EUMR contravenes the TEU and the TFEU, and the general principles of EU law.
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