EU Commission Accuses Vivendi of Premature Lagardère Takeover

The European Commission has issued a statement of objections to Vivendi, alleging the French media group breached EU merger rules by executing aspects of its planned acquisition of Lagardère before obtaining regulatory approval. The formal complaint claims Vivendi "possibly broke rules by implementing the acquisition before merger approval," a practice commonly referred to as gun-jumping under EU competition law. The company now has the opportunity to respond to the Commission’s preliminary findings before any decision on potential penalties is made.