Public consultation on the revision of airports tariffs regulation – ongoing

Lear is supporting one of Italy’s leading airport operators in the preparation of its position paper in the public consultation issued by the Italian Transport Regulator on the revision of regulatory models for airport charges. Lear’s contribution is aimed at providing a reconstruction of the competitive dynamics prevailing in the markets where airports operate and at expressing general evaluations on the regulatory regime envisaged by the Italian Transport Regulator, also in light of the European legislation and the best practices emerging from other European countries.

Technical assistance for the Antimonopoly Committee of the Republic of Uzbekistan

Lear has been appointed by the European Bank for Reconstruction and Development to provide technical assistance to the Antimonopoly Committee of the Republic of Uzbekistan (“ACRU”). The project, funded by the Japan-EBRD Cooperation Fund, encompassed a comprehensive capacity building programme based on trainings with the aim of supporting the institutional development, policy enforcement, and advocacy activities of the ACRU.

 

 

 

Support study for DG COMP on killer acquisitions in the pharmaceutical sector – ongoing

Lear has been appointed by the European Commission to carry out an ex-post evaluation of EU competition enforcement looking at acquisitions of innovative competitors in the pharmaceutical sector that have led to the discontinuation of overlapping drug research and development projects to the detriment of future competition (“killer acquisitions”). Continue reading Support study for DG COMP on killer acquisitions in the pharmaceutical sector – ongoing

Dispute in the corrugated cardboard sheets sector – ongoing

Lear is assisting several producers active in the market for corrugated carboard sheets and corrugated cardboard boxes in the rebuttal of damages claims brought by the producers’ clients active at different levels of the supply chain. The actions for damages are the result of two separate agreements, ascertained by the Italian Competition Authority in 2019, aimed at distorting the dynamics of competition in the market for corrugated cardboard sheets and in the market for corrugated cardboard boxes respectively. Lear’s economists are developing thorough analyses aimed at showing that the requests for damages are unfounded as they suffer from several methodological flaws and cannot therefore be considered reliable.

Ex-ante assessment of the competitive effects of a multi-year purchasing agreement in the Italian insurance market

Lear assisted two leading Italian insurance companies in the assessment of the competitive effects of a purchasing agreement they intended to undertake, with the aim of evaluating its compatibility with Art. 101 TFEU. Lear consultants analysed the relevant geographic and product markets, calculated market shares in the affected markets and analysed the competitive concerns that might arise from the agreement. In light of the multi-year nature of the agreement, the evaluation also took into account a possible future increase in the parties’ market shares.

Concentration in the retail market for health, beauty, and household products

Lear has been appointed by a leading private equity and alternative assets investment company wishing to acquire control over a number of companies active in the Italian retail market for health, beauty, and household products, for a total of three different transactions carried out by an investment company. In two transactions, Lear’s economists have assisted the client in proving that there was no reportable market due to the absence of horizontal overlaps or vertical relationships between the business activities of the target companies and the business activities of the portfolio companies controlled by the investment company. Continue reading Concentration in the retail market for health, beauty, and household products

Alleged cartel in the Italian market for third-party liability insurance services – ongoing

Lear has been appointed by one of the largest insurance companies active in Italy and worldwide to rebut the accusations by the Italian Competition Authority, which has started a preceding to ascertain the potential anticompetitive effects of an information exchange among a number of price comparison websites and other insurance companies active in the provision of third-party liability insurance services in Italy. According to the ICA, such information could have been useful for the insurance companies to align their business strategies and hence reduce discounts provided to customers, which eventually led to higher prices. Lear’s strategy aims at proving that the exchange of information was not apt to lead to anticompetitive effects, mostly because of (i) the limited scope of the exchange, (ii) the fact that the exchange does not increase market transparency, and (iii) the fact that exchanged information could not be used to estimate prices charged by other companies.

Alleged restriction of competition agreement in the market for distribution of consumer electronics

Lear has assisted Apple Inc. in a proceeding before the Administrative Tribunal of Lazio (TAR), again a decision by the Italian Competition Authority (ICA) on a vertical agreement with the Amazon group that has allegedly reduced intra-brand price competition on the Amazon.it marketplace. Lear supported Apple throughout the ICA and TAR proceedings; Lear submitted economic evidence showing that the agreement had a vertical nature and was motivated by the need to curb counterfeiting of Apple products, and improve consumers’ experience; therefore it had the objective and effect of boosting inter-brand competition between Apple and rival manufacturers of consumer electronics. The TAR sided with Apple and annulled the ICA’s decision.

Ex-ante assessment of the creation of a joint venture in the Italian market of the copyright intermediation for to the use of musical works – ongoing

Lear is assisting two leading companies in the sector of the intermediation of rights related to copyright for the use of musical works. The two companies notified a JV to the Italian Competition Authority (ICA). The ICA started a proceeding to assess the competitive effects of the transaction. Lear has been asked to identify and estimate the efficiencies brought about by JV.

Evaluation of the anti-competitive effects of a new regulation in the payment and settlement sector

Lear has been appointed by a consortium of banks to analyse the effects of the new Direct Access Fee (“DAF”) proposed by Bancomat S.p.A. to replace the Multilateral Interchange Fee (“MIF”) model for “not-on-us” ATM withdrawals with a model based on a direct fee to the cardholder. The Italian Competition Authority found that the project violated Article 101 TFEU, and that the new remuneration system would hinder competition among banks and likely facilitate collusion, fully in line with the theory of harm developed by Lear. Continue reading Evaluation of the anti-competitive effects of a new regulation in the payment and settlement sector