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EU court backs $29 million EU gun jumping fine against Canon
2022.05.18 12:57
People are silhouetted against a display of the Canon brand logo at the CP+ camera and photo trade fair in Yokohama, Japan, February 25, 2016. REUTERS/Thomas Peter/Fies
BRUSSELS (Reuters) – Europe’s second-top court on Wednesday upheld a 28-million-euro ($29.4 million) gun jumping fine against Japanese camera and printer maker Canon for closing a 2016 acquisition before securing EU regulatory approval.
“The (European) Commission was therefore right to observe that the Court’s case-law distinguishes between the concepts of ‘concentration’ and ‘implementation of a concentration’,” the Luxembourg-based General Court said.
The case is T-609/19 Canon V Commission.
($1 = 0.9515 euros)
