Felipe Flórez Duncan


+44 (0) 20 7776 6603

Location: London

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Felipe heads the Telecoms, Media & Post team at Oxera, working across the digital, media, telecoms and postal sectors. He has extensive experience in the application of competition and regulatory economics, including in abuse of dominance cases, vertical agreements, mergers, and regulatory policy and strategy.

In the telecoms sector, he has advised companies and regulators on a wide range of issues including market reviews, pricing of fibre networks, margin squeeze assessments, bundling, functional separation, and spectrum liberalisation and trading, as well as acting as economic expert during merger reviews in fixed and mobile markets. In the media sector, he has acted for clients including Liberty Global, Warner Bros. and Telefónica on issues such as joint selling agreements, passive sale restrictions, and horizontal and vertical mergers involving platforms, networks and content.

In the digital sector, his work focuses on the convergence between new and traditional business models, examining the implications for policy, regulation and strategy. For example, he led a study examining the impact of the BBC in online news and advertising markets, and a study on the impact of proposals under the European Commission’s Digital Single Market strategy to achieve full cross-border access to audio-visual content.

Felipe is also a seasoned economic expert, having provided expert witness testimony in regulatory, competition and damages cases before UK and European courts.

Selected project experience

  • Advised Liberty Global on a number of mergers at the European Commission, including Liberty Global/Vodafone (2016); Liberty Global/De Vijver Media (2015); Liberty Global/Ziggo (2014)

  • Advised Warner Bros. during the European Commission’s pay-TV competition investigation (2015–16)

  • Led Oxera’s study on the impact of proposals to achieve full cross-border access to audio-visual content in Europe, as part of the European Commission’s Digital Single Market strategy (2015–16)

  • Led Oxera’s work, together with media consultancy O&O, on the impact of the BBC in the online markets for news and advertising (2016)

  • Acted as economic expert for Turk Telekom in a competition case concerning an alleged margin squeeze in the sale of broadband and TV bundles (2016)

  • Advised an intervener in the Three/O2 mobile merger at the European Commission (2015–16)

  • Assisted ComReg on the appropriate definition of relevant markets for fixed voice access services in the presence of broadband and TV bundles (2014)

  • Advised BT on formulating its response to Ofcom’s proposals in the fixed access market review to impose an ex ante margin squeeze remedy on fibre broadband (2013–14)

  • Led Oxera’s work for BT assessing Ofcom’s proposals on the efficiency target to be applied in the wholesale local access charge controls (LLU/WLR) (2013)

  • Advised Royal Mail on various regulatory strategy and competition policy issues, including abuse of dominance cases (Art. 102); market definition and market power assessments; margin squeeze analysis; wholesale access regulation; retail and access pricing strategies; long-run incremental cost (LRIC) modelling; and assessing the impact of direct delivery competition on the financial sustainability of the universal service obligation (2007–)

  • Assisted a major European telecoms operator in a margin squeeze case in the Spanish mobile sector (2012–14)

  • Acted as an economic expert witness in the Italian Courts on behalf of a major European telecoms operator in a damages claim as a result of a margin squeeze abuse in the mobile sector (2012–13)

  • Directed a project for ComReg, the Irish telecoms and postal regulator, that developed a competition framework for spectrum trading in Ireland (2012)

  • Provided economic advice to the merging parties in the Antena 3/LaSexta merger in the Spanish media market (2012)

  • Represented BT in various market reviews and charge controls by Ofcom, as well as appeals to the CAT and the Competition Commission (2010–12)

  • Managed Oxera’s work for ICP-ANACOM, the Portuguese telecoms regulator, on assessing the implications of imposing a vertical functional separation remedy on Portugal Telecom (2009)

  • Advised Telefónica in an investigation by the Spanish Competition Commission (CNC) into vertical agreements and bundling practices in the pay-TV market (2009)

  • Advised ComReg on the design of a framework to regulate retail bundles (2008)

  • Led Oxera’s work for Telefónica O2 UK Ltd on modelling the market for spectrum trading, following Ofcom’s proposals to liberalise 2G spectrum (2007)

  • Advised OPTA on the presence of countervailing buyer power in the Dutch mobile call termination market (2007)

  • Advised a group of European postal operators on alternative USO funding mechanisms under liberalisation (2006–07)

Selected publications

  • Flórez Duncan, F., Longman, D., Mautino, L. and Dudley, P. (2011), ‘Price Discrimination and Price Differentiation within Direct Mail’, chapter 17, in M. Crew and P. Kleindorfer (eds), Reinventing the Postal Sector in an Electronic Age, Edward Elgar.

  • Flórez Duncan, F. (2010), ‘No Margin for Error: The Challenges of Assessing Margin Squeeze in Practice’, Competition Law Journal, 1.

  • Barnes, F., Flórez Duncan, F. and Niels, G. (2006), ‘Voice over Broadband: To Regulate or not to Regulate?’, Competition Law Insight, March.


  • MPA Public and Economic Policy, London School of Economics

  • BSc Economics, Universidad del Pacífico, Peru

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