Matthew Johnson


+44 (0) 1865 253026

Location: Oxford and London

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Matthew specialises in competition economics. His areas of expertise include merger analysis, abuse of dominance and the effects of vertical and horizontal agreements between firms. He has provided analysis for clients involved in litigation, as well as those facing investigations by competition authorities in a number of jurisdictions.

Before joining Oxera, Matthew worked as an economic adviser at the UK Office of Fair Trading (OFT), now part of the Competition and Markets Authority (CMA), and at the European Commission. He has over 15 years’ experience as a professional economist and has been appointed economic expert in the context of UK High Court litigation proceedings. He has also advised on market investigations in a range of industries.

Matthew acts as a non-governmental adviser to the International Competition Network (ICN) Working Groups on Mergers and Unilateral Conduct. He is listed in The International Who’s Who of Competition Lawyers & Economists 2017. He also sits on the advisory board of the Competition Law Journal.

Selected project experience


  • Advice to Co-operative Group Limited on a number of UK grocery store acquisitions (2015–17)

  • Advice to Arriva Group during the CMA investigation of its acquisition of the Northern Rail Franchise (2016)

  • Advice to Macquarie during the European Commission clearance of its joint acquisition of four gas distribution networks in the UK (2017)

  • Advice to Statoil Fuel & Retail throughout the European Commission clearance of SFR’s acquisition of Shell’s downstream assets in Denmark (2014–16)

  • Advice to Severn Trent and United Utilities during the CMA clearance of their non-household water retail joint venture (2016)

  • Advice to Just Retirement Group during the CMA clearance of its acquisition of Partnership Assurance Group (2015–16)

  • Advice to an intervener during the European Commission’s investigation of the H3G/O2 telecoms merger (2015–16)

  • Advice to an intervener during the CMA’s investigation of the BT/EE telecoms merger (2015–16)

  • Advice to the merging parties during the CMA clearance of a UK agricultural supplies merger (2015)

  • Advice to the merging parties during competition authority clearance of a dentistry merger (2014)

  • Analysis, including mapping and consumer surveys, for a UK independent co-operative society during a merger notification to the CMA (2014)

  • Advice to Optimax during the OFT and Competition Commission investigations into its completed acquisition of Ultralase (2013)

  • Advice to Bottomline Technologies on its acquisition of Albany (2012)

  • Advice to Belgacom during a Belgian Competition Authority phase II investigation into its acquisition of The Phone House (2011)

Antitrust and market investigations

  • Advice to a European mobile network infrastructure provider in the context of a European Commission Article 101 investigation (2017)

  • Appointed economic expert in a High Court of Northern Ireland litigation (2017)

  • Appointed economic expert in the context of UK High Court litigation involving a restrictive covenant in a land agreement (2014–15)

  • Advice to Bulgarian Energy Holdings during a European Commission investigation into abuse of dominance in the Bulgarian wholesale electricity market (2015)

  • Advice to Royal Bank of Scotland during the CMA’s retail banking market investigation (2013–16)

  • Advice to a leading insurer during the UK Financial Conduct Authority’s (FCA) market study into general insurance add-ons (2014–15)

  • Advice on pass-through to a number of public-sector clients jointly defending a claim for damages (2013–14)

  • Advice to a retailer under investigation by the UK OFT for alleged breach of Chapter 1 CA98 and Article 101 TFEU (2013–14)

  • Peer-review advice to the OFT in the context of an ongoing abuse of dominance investigation (2012)

  • Advice to Skyscanner following the OFT Commitments Decision involving, Expedia, and Intercontinental Hotels Group (2014)

  • Advice to the OFT on market definition in private healthcare (2011)

  • Competition and regulatory advice to ITV, the UK’s largest independent television broadcaster (2010–12)

  • Advice to Arriva, a major UK bus operator, during the Competition Commission market inquiry into local bus services (2010–11)

  • Advice to a major bank during a European Commission Article 101 case (2012–13)

  • Advice to a leading insurer during the Competition Commission inquiry into private motor insurance (2012–15)

Selected publications

  • Droukopoulos, S., Chowdhury, A. and Johnson, M. (2015), ‘Most-favoured-nation clauses in the e-commerce sector: an economist’s point of view’, Competition Law Journal, 14:2, pp. 153–8.

  • Makhkamova, L., Johnson, M. and Niels, G. (2012), ‘Under examination: The OFT’s Study into the Private Healthcare Market’, Competition Law Journal, 11:2.

  • Buelens, C., Garnier, G., Johnson, M. and Meiklejohn, R. (2007), ‘The Economic Analysis of State Aid: Some Open Questions’, European Economy—Economic Papers, 286, September.


  • MSc Economics, University College London

  • BA Economics, University of Sussex