What was the client issue?
In October 2014 Liberty Global completed a €9bn merger between its Dutch subsidiary, UPC NL, and Ziggo. The arrangement involved both horizontal and vertical issues as the parties integrated their networks and media platforms. The transaction was subject to a Phase II merger review by the European Commission.
How did we help the client solve it?
Oxera advised Liberty Global throughout pre-notification and both phases of the merger review process. We combined sound economic reasoning with supporting evidence from market data to help the client build a compelling case before the Commission. Oxera’s analysis helped provide reassurance to the Commission’s Chief Economist’s team around a number of its concerns and helped to ensure that appropriate remedies were put in place to address the remainder.
Why was the outcome compelling for the client?
The support provided by Oxera helped achieve two key objectives. Firstly, it ensured that European Commission’s most problematic concerns were dismissed. Secondly, it helped identify reasonable and appropriate remedies that satisfied the European Commission and allowed Liberty Global to finalise the transaction.