The European Commission’s Directorate-General for Competition published guidance on the application of the referral mechanism in Article 22 of the EU Merger Regulation.
Under the approach described in the guidance, Member States may refer certain transactions to the Commission even where they fall below national merger-control thresholds, if they may affect trade between Member States and threaten to significantly affect competition.
The policy increases the potential for EU merger-control scrutiny of acquisitions in the payments and digital sectors.
Further information is available on the European Commission website.