A UK appeals court has upheld a ruling by competition authorities that Intercontinental Exchange must sell Trayport, an energy software trading platform it bought for $650m more than a year ago.
The Competition Appeal Tribunal said late on Monday it backed a ruling by the UK antitrust watchdog that the deal could curb competition in the European energy trading market.
The Competition and Markets Authority’s ruling against ICE last October was the first time the CMA had demanded a company sell an asset it had already bought since the watchdog replaced the merged Office of Fair Trading and Competition Commission in 2014.
In a statement on Monday ICE said it was disappointed by the CAT ruling. “We will review the CAT’s judgment and consider our options, including the possibility of a further appeal to the Court of Appeal,” it said.
Full Content: Mondo Visione
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI