By Foo Yun Chee
BRUSSELS (Reuters) -EU antitrust regulators are checking whether French media conglomerate Vivendi closed its acquisition of French publisher Lagardere deal before securing regulatory approval, the European Commission said on Thursday.
Such so-called gun jumping can result in fines of up to 10% of a company’s group aggregate turnover. The EU antitrust watchdog has in recent years cranked up fines for such offences as a deterrent.
The EU executive said it was alerted by media reports but has not opened a formal investigation yet.
“The Commission was made aware of allegations of gun jumping, which have been reported in the press. The Commission can confirm that it is looking into the matter,” the EU executive said in an email.
Vivendi declined to comment.
The EU competition enforcer last week cleared the deal with conditions. Infringement proceedings are handled separately from the merger review.
(Reporting by Foo Yun Chee, additional reporting by Mathieu Rosemain in Paris; Editing by Jan Harvey)
