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By Foo Yun Chee
BRUSSELS, Dec 10 (Reuters) – French media conglomerate Vivendi made a last-ditch effort on Wednesday to stave off a possible EU antitrust high-quality, following expenses it closed its acquisition of writer Lagardere earlier than receiving regulatory approval.
Vivendi, represented by greater than a dozen legal professionals, made its case to senior competitors officers and legal professionals on the European Fee in addition to French antitrust officers at a day-long closed listening to. Lagardere’s legal professionals have been additionally current.
All of the members declined to remark.
The Fee, which acts because the EU competitors watchdog, in its July cost sheet mentioned Vivendi breached the standstill obligation set out within the bloc’s merger guidelines.
The corporate, which has rejected the fees, dangers a high-quality of as a lot as 10% of its international annual income if discovered responsible of breaking EU guidelines.
The Fee, which takes a troublesome line in opposition to procedural violations and has handed out stiff fines lately, is ready to situation its determination subsequent 12 months.
It cleared the Lagardere deal previous to opening the investigation.
(Reporting by Foo Yun Chee; Enhancing by Kirsten Donovan)
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