Portrait of Ilaria Fanton

Ilaria Fanton : Principal

Ilaria is a member of Oxera’s Competition and Modelling teams. She has advised clients in cases involving mergers, horizontal agreements, and abuse of dominance, including in the context of private litigation and investigations by the European Commission and other competition authorities in Europe and South America. She has worked on these issues across a broad range of sectors including communications, retail and financial services.

Before joining Oxera, Ilaria worked for two years at the UK Office of Fair Trading (now the Competition and Markets Authority, CMA). There, she was part of the Econometrics Team, where she focused on quantitative analysis in a range of competition cases. This included the fuel and energy market investigations, and a number of mergers.

Ilaria speaks Italian, Spanish, and English.

Tel: +44 (0) 20 7776 6605

Ilaria's specialisms include:

professional experience

  • Advice to FCE Bank in the context of an ongoing Art 101 investigation by the Italian competition authority (2018–)

  • Advice to Co-op on its acquisition of Nisa, which was cleared at Phase I unconditionally (2018)

  • Advice to an Italian cement manufacturer in relation to an Article 101 investigation by the Italian Competition Authority (2017)

  • Advice to a technology company in relation to an exclusionary abuse case (2017–)

  • Advice to a large UK grocery retailer during investigations by the CMA regarding the acquisition of third-party convenience stores (2016–17)

  • Advice on the effect that information exchange had on container shipping charges set by a large international shipping company (2016–17)


  • Déchamps, P. and Fanton, I. (2018), ‘The economics of dynamic markets: a focus on merger control’, in D. Gerard, E. Morgan de Rivery and B. Meyring (eds), Dynamic Markets, Dynamic Competition and Dynamic Enforcement, GCLC Annual Conference Series, Bruylant.


  • MSc Economic and Social Sciences, Bocconi University, Milan

  • BA International Economics and Management, Bocconi University, Milan

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Recent merger cases have seen an increased interest in ‘dynamic’ counterfactuals, where the market would have become more competitive in the future in the absence of the merger. What are…
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Recent transactions involving the merging of wholesale and retail activities (most notably the Tesco/Booker merger and the Co-op/Nisa merger) have led the UK Competition and Markets Authority (CMA) to introduce…

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