Oxera testifies in a prominent litigation case at the London High

Last week, Oxera Partner, Dr Min Shi, CFA, testified in the eight-week trial at the London High Court in the matter of PCP Capital Partners LLP and others v. Barclays Bank Plc. Dr Shi was cross examined over the course of two days in relation to the damages suffered by PCP in connection with the

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Flying through the storm: aligning merger control and state support

Many firms are facing financial difficulty as a result of COVID-19, and are receiving state support. However, we have not (yet) seen the predicted increase in merger activity. Is it preferable to provide state aid to companies in order to allow them to continue operating, or should we allow these ‘failing or flailing’ firms to be acquired by others? Which is the right tool to use, and could there be more alignment between them?

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What problems can the European Commission’s New Competition Tool fix?

On 2 June, the European Commission launched consultations on proposals for a New Competition Tool (NCT) and its Digital Services Act package. We look at the proposals for the NCT, drawing on lessons from the UK market investigations regime, and in particular the ability to use market investigations to act more quickly and effectively to remedy competition problems

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Catchment if you can: a practical guide to local competition analysis

Many markets involve local or regional competition between firms. Retailers, hospitals, airports, and even funeral directors compete for their customers locally. Empirical techniques for analysing competition in local markets have developed and become more sophisticated over time. But which techniques provide the most accurate assessment? We discuss and compare a range of practical methods that have been used in recent competition cases

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Proposed acquisition of UBI Banca by Intesa Sanpaolo approved by ICA: The last regulatory hurdle to acquisition is cleared following a green light from the ECB and CONSOB

The Italian Competition Authority (ICA) has authorised the acquisition of UBI Banca S.p.A. by Intesa Sanpaolo S.p.A. (ISP) after an in-depth phase II investigation. As part of its assessment, the ICA analysed the degree of competition at the local level in a number of markets, and applied strict screening criteria to identify a large number

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RIIO-2 Draft Determinations: what next?

On 9 July 2020, Ofgem published its Draft Determinations for the RIIO-2 price controls for the GB electricity transmission (ET), gas transmission (GT), and gas distribution (GD) sectors, and the electricity system operator (ESO).1 The price controls are due to start on 1 April 2021 and run for five years, until 31 March 2026.2 The

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Delivering the 2050 net-zero target: Oxera contributes to ICE’s State of the Nation 2020 report

Oxera is pleased to have contributed to the State of the Nation 2020: Infrastructure and the 2050 net-zero target report by the Institute of Civil Engineers. Despite the increasing importance of the climate change agenda within the regulated infrastructure industry, significant barriers are still in the way of unlocking the delivery of the 2050 carbon targets.

Read More

Oxera testifies in a prominent litigation case at the London High

Last week, Oxera Partner, Dr Min Shi, CFA, testified in the eight-week trial at the London High Court in the matter of PCP Capital Partners LLP and others v. Barclays Bank Plc. Dr Shi was cross examined over the course of two days in relation to the damages suffered by PCP in connection with the

Read More


Flying through the storm: aligning merger control and state support

Many firms are facing financial difficulty as a result of COVID-19, and are receiving state support. However, we have not (yet) seen the predicted increase in merger activity. Is it preferable to provide state aid to companies in order to allow them to continue operating, or should we allow these ‘failing or flailing’ firms to be acquired by others? Which is the right tool to use, and could there be more alignment between them?

Read More


What problems can the European Commission’s New Competition Tool fix?

On 2 June, the European Commission launched consultations on proposals for a New Competition Tool (NCT) and its Digital Services Act package. We look at the proposals for the NCT, drawing on lessons from the UK market investigations regime, and in particular the ability to use market investigations to act more quickly and effectively to remedy competition problems

Read More


Catchment if you can: a practical guide to local competition analysis

Many markets involve local or regional competition between firms. Retailers, hospitals, airports, and even funeral directors compete for their customers locally. Empirical techniques for analysing competition in local markets have developed and become more sophisticated over time. But which techniques provide the most accurate assessment? We discuss and compare a range of practical methods that have been used in recent competition cases

Read More


Proposed acquisition of UBI Banca by Intesa Sanpaolo approved by ICA: The last regulatory hurdle to acquisition is cleared following a green light from the ECB and CONSOB

The Italian Competition Authority (ICA) has authorised the acquisition of UBI Banca S.p.A. by Intesa Sanpaolo S.p.A. (ISP) after an in-depth phase II investigation. As part of its assessment, the ICA analysed the degree of competition at the local level in a number of markets, and applied strict screening criteria to identify a large number

Read More


RIIO-2 Draft Determinations: what next?

On 9 July 2020, Ofgem published its Draft Determinations for the RIIO-2 price controls for the GB electricity transmission (ET), gas transmission (GT), and gas distribution (GD) sectors, and the electricity system operator (ESO).1 The price controls are due to start on 1 April 2021 and run for five years, until 31 March 2026.2 The

Read More


Delivering the 2050 net-zero target: Oxera contributes to ICE’s State of the Nation 2020 report

Oxera is pleased to have contributed to the State of the Nation 2020: Infrastructure and the 2050 net-zero target report by the Institute of Civil Engineers. Despite the increasing importance of the climate change agenda within the regulated infrastructure industry, significant barriers are still in the way of unlocking the delivery of the 2050 carbon targets.

Read More


How will COVID-19 affect reform of the energy retail sector in Italy?

Lockdowns related to the COVID-19 pandemic have had a significant impact on the energy sector. Italy was the first European country to be significantly affected by the COVID-19 pandemic and is gradually moving back to normality. In a previous piece, we covered the pandemic’s effect on the UK electricity market; here, we consider the effect

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How will COVID-19 affect reform of the energy retail sector in Great Britain?

The energy sector across Europe faced a shock as lockdowns of varying severity were established in response to the COVID-19 pandemic. These shocks were mainly caused by the sudden reductions in mobility and productivity caused by the mandated temporarily closure of economies across the continent. Electricity market data collected during April and May 2020 shows

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COVID-19 update from Oxera

In recent months we have seen a sea change in the way we live and how we do business. The global pandemic has meant that we—businesses, governments, regulators and banks—have had to adapt rapidly to guidance on protecting lives, livelihoods and the economy. People and firms have found new ways of doing things, and although

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