Daily News 06 / 11 / 2024

Commission opens antitrust investigation into possible anticompetitive practices by Corning over cover glass for electronic devices   

The European Commission has opened a formal investigation to assess whether Corning may have abused its dominant position on the worldwide market for a special type of glass that is mainly used to protect the screens of handheld electronic devices, such as mobile phones.

The Commission has concerns that Corning may have distorted competition by concluding anti-competitive exclusive supply agreements with mobile phone manufacturers (Original Equipment Manufacturers or ‘OEMs') and with companies that process raw glass (‘finishers'). The Commission is concerned that the agreements that Corning put in place with OEMs and finishers may have excluded rival glass producers from large segments of the market, thereby reducing customer choice, increasing prices, and stifling innovation to the detriment of consumers worldwide.

The Commission will now carry out its in-depth investigation as a matter of priority. The opening of a formal investigation does not prejudge its outcome.

In parallel to the opening of proceedings, the Commission has adopted a Preliminary Assessment summarising the main facts of the case and identifying its competition concerns. To address the Commission's concerns, Corning may now submit commitments.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said: "It is very frustrating and costly experience to break a mobile phone screen. Therefore, strong competition in the production of the cover glass used to protect such devices is crucial to ensure low prices and high-quality glass. We are investigating if Corning, a major producer of this special glass, may have tried to exclude rival glass producers, thereby depriving consumers from cheaper and more break-resistant glass.”

A press release is available online.

(For more information : Lea Zuber – Tel.: +32 2 295 62 98; Sara Simonini - Tel.: +32 2 298 33 67)

Commission clears acquisition of HB by TPG and New Mountain

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Homrich Berg Wealth Management, LLC (‘HB') by TPG Inc. and New Mountain Capital, LLC (‘New Mountain'), all of the US.

The transaction relates primarily to wealth management services.

The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure.

More information is available on the Commission's competition website, in the public case register under the case number M.11761.

(For more information : Lea Zuber – Tel.: +32 2 295 62 98; Sara Simonini - Tel.: +32 2 298 33 67)

Commission clears acquisition of Comau by OEP

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Comau S.p.A (‘Comau') of Italy by One Equity Partners Capital Advisors L.P. (‘OEP') of the US. 

The transaction relates primarily to the design, production and supply of industrial automation systems, robotics, assembly lines and advanced automation solutions for the transportation, energy and education sectors.

The Commission concluded that the notified transaction would not raise competition concerns, given that the companies are not active in the same or vertically related markets. The notified transaction was examined under the simplified merger review procedure.

More information is available on the Commission's competition website, in the public case register under the case number M.11696.

(For more information : Lea Zuber – Tel.: +32 2 295 62 98; Sara Simonini - Tel.: +32 2 298 33 67)

Liste des points prévus à l'ordre du jour des prochaines réunions de la Commission

Veuillez noter que ces informations sont données sous réserve de modifications.

Prochains événements de la Commission européenne

Eurostat: communiqués de presse