Nyt fra Konkurrence- og Forbrugerstyrelsen

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Konkurrenceretlig nyhedsoversigt dækker dansk, EU og international konkurrenceret og statsstøtteret Tilmeld dig nyhedsbrevet via. formularen på CMEs hjemmeside Side 1 af 16

Konkurrenceretlig Nyhedsoversigt nr. 64 / dækkende 9. februar – 23. marts 2021

Indhold

1. Dansk ret

 Nyt fra Konkurrence- og Forbrugerstyrelsen

 Nyt fra Konkurrencerådet

 Nyt fra Konkurrenceankenævnet

 Nye afgørelser fra domstolene

 Lovforslag i høring

 Ny lovgivning

 Nyt fra Ankestyrelsen

 Andet

2. Europæisk og international ret

 Nyt fra Kommissionen

 Kommisionsafgørelser

 Nyt fra EU-domstolene

 Andet internationalt nyt

3. Litteratur (DK)

 Artikler fra Ugeskrift for Retsvæsen

 Nye publikationer fra Erhvervsministeriet

 Artikler fra Juristen

 Artikler fra Erhvervsjuridisk Tidsskrift

 Artikler fra Revision & Regnskabsvæsen

 Artikler fra EU og Menneskeret

 Konkurrenceretlige emner

 Anden dansk/nordisk litteratur

4. Litteratur (UK)

 European Competition Law Review

 European Competition Journal

 Journal of Competition Law and Economics

 Journal of Antitrust Enforcement

 Competition Policy Brief

 Competition Merger Brief

 Journal of European Competition Law and Practice

 World Competition

 European Journal of Law and Technology

 Antitrust Law Journal

 The Antitrust Bulletin (US Journal)

 Journal of The European Economic Association

 Competition Law & Policy Debate

 Journal of Economics &

Management Strategy

 Journal of Regulatory Economics

 International Review of Law and Economics

 Competition Law Journal

 European Competition and Regulatory Law Review

 European Economic Review

 Communications Law

 Computer and Telecommunications Law Review

 Global Competition Litigation Review

 Andre udenlandske artikler 5. Nyt fra konkurrencegruppen

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/ Konkurrenceretlig nyhedsoversigt dækker dansk, EU og international konkurrenceret og statsstøtteret Tilmeld dig nyhedsbrevet via. formularen på CMEs hjemmeside Side 1 af 16

1 | DANSK RET

Nyt fra Konkurrence- og Forbrugerstyrelsen

Konkurrence- og Forbrugerstyrelsen modtog den 5. februar 2021 en forenklet anmeldelse af Semler Retail A/S' erhvervelse af enekontrol med Semler Retail Holbæk A/S.

Inden fusionen er Semler Retail Holbæk kontrolleret af Semler Retail og FP & PL Invest ApS i fællesskab, men overgår ved fusionens gennemførelse til Semler Retail enekontrol.

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Offentliggørelsesdato: 10. februar 2021

Konkurrence- og Forbrugerstyrelsen modtog den 12. februar 2021 en forenklet anmeldelse af et joint venture mellem Triax A/S og Klode Medio S.L.U.

Oprettelsen af joint venturet sker ved, at Widewall Seed S.L.U.’s enekontrol over Klode Media, S.L.U.

(tidligere Ikusi) og Triax Holding A/S’ enekontrol over Triax A/S erstattes af fælles kontrol over et fælleskontrolleret joint venture i form af den nyoprettede virksomhed Trik.

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Konkurrence- og Forbrugerstyrelsen modtog den 2. februar en forenklet anmeldelse af en fusion mellem Francisco Partners og CDK Global Holdings (UK) Limited og CDK Global (Thailand) Limited.

Ved den anmeldte fusions gennemførsel erhverver Francisco Partners Francisco Partners, gennem datterskelskabet Concorde Bidco ltd., ved en aktieoverdragelse 100 pct. af aktierne i CDK Global Holdings (UK) Limited (eksklusiv selskaberne CDK Global (India) Private Limited, CDK Global (Canada) Limited samt PFW Systems Corporation) og CDK Global (Thailand) Limited.

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Konkurrence- og Forbrugerstyrelsen modtog den 12. februar 2021 en forenklet anmeldelse af Postlane Capital Partners LLCs overtagelse af 100% af aktiekapitalen i A/S Dansk Shell.

Transaktionen indebærer, at Postlane gennem sit danske datterselskab PL ESG Denmark Co ApS erhverver 100 pct. af aktierne i Dansk Shell, hvormed Postlane opnår enekontrol over Dansk Shell.

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Konkurrence- og Forbrugerstyrelsen modtog den 19. februar 2021 en forenklet anmeldelse af en fusion mellem Enemærke & Petersen a/s og Raunstrup A/S.

Transaktionen medfører, at Enemærke & Petersen a/s erhverver 100% af aktiekapitalen i Raunstrup A/S.

Dermed opnår Enemærke & Petersen a/s enekontrol over Raunstrup A/S.

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Konkurrence- og Forbrugerstyrelsen modtog den 3. marts 2021 en forenklet anmeldelse af

oprettelsen af et joint venture mellem By & Havn I/S og PensionDanmark Ejendomme Holding K/S.

Transaktionen medfører, at der oprettes et selvstændigt fungerende joint venture på varigt grundlag, der vil være underlagt PensionDanmark Ejendomme Holding K/S’ og By & Havn I/S’ fælles kontrol.

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Offentliggørelsesdato: 5. marts 2021

Konkurrence- og Forbrugerstyrelsen modtog den 4. marts 2021 en forenklet anmeldelse af et joint venture mellem By & Havn I/S og PFA DK Boliger Høj A/S.

Transaktionen medfører, at der oprettes et selvstændigt fungerende joint venture på varigt grundlag, der vil være underlagt PFA DK Boliger Høj A/S, og By & Havn I/S’ fælles kontrol.

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Konkurrence- og Forbrugerstyrelsen har godkendt, at canadiske Intact Financial Corporation overtager enekontrollen med RSA Insurance Groups danske forretning, som er placeret i Codan.

Canadiske Intact Financial Cooperation (Intact) har fået konkurrencemyndighedernes godkendelse til at overtage enekontrollen med RSA Insurance Groups (RSA) forretning i blandt andet Danmark. Den danske forretning er placeret i Codan, som ud over de danske aktiviteter består af RSA’s aktiviteter i Norge og Sverige.

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Konkurrence- og Forbrugerstyrelsen modtog den 16. marts 2021 en forenklet anmeldelse af M.J.

Eriksson Holding A/S’ erhvervelse af fælleskontrol over LM Byg A/S sammen med eksisterende kontrollerende ejer KVALITET.DK ApS.

Transaktionen indebærer, at M.J. Erikssom Holding A/S og KVALITET.DK ApS opnår fælleskontrol over LM Byg A/S og BNS A/S. M.J. Eriksson Holding A/S og KVALITET.DK ApS har i forvejen fælleskontrol over Pihl

& Søn A/S. M.J. Eriksson Holding A/S erhverver med transaktionen en ejerandel på 16,5 % i den samlede LM Byg-koncern (pt. bestående af LM Byg A/S, BNS A/S og Pihl & Søn A/S) og opnår en række rettigheder gennem en ejeraftale indgået mellem parterne.

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Nyt fra Konkurrencerådet

Konkurrencerådet har godkendt Stark Danmark A/S’ overtagelse af Jens Schultz A/S, som driver fire byggemarkeder på Sydfyn, Langeland og Ærø. Indledningsvist var Konkurrence- og

Forbrugerstyrelsen betænkelig ved fusionen, fordi den muligvis ville skade kunderne, men de nærmere undersøgelser har medført, at fusionen nu kan godkendes.

Konkurrence- og Forbrugerstyrelsens undersøgelser har vist, at Stark Danmark og Jens Schultz i dag lægger et ikke ubetydeligt konkurrencepres på hinanden inden for salg af byggematerialer til både

professionelle og private kunder i Svendborg og Rudkøbing. Det konkurrencepres vil forsvinde med fusionen og umiddelbart give Stark Danmark et incitament til at hæve priserne og forringe serviceniveauet i de to lokalområder.

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Nyt fra domstolene

- Intet nyt

Lovforslag i høring

Høring over ændring af markedsføringsloven

Formålet med lovforslaget er at indføre en undtagelse til forbuddet i markedsføringslovens § 11 b, stk. 1, mod enhver markedsføring af forbrugslånsvirksomheder og kreditaftaler til forbrugere i forbindelse med markedsføring af spil eller spiludbydere. Den foreslåede undtagelse skal sikre sponsorindtægter til dansk idræts- og foreningsliv på trods af markedsføringsforbuddet. Undtagelsen indføres på baggrund af den politiske aftale af 19. januar 2021 indgået af regeringen (Socialdemokratiet), Venstre, Dansk Folkeparti, Radikale Venstre, Socialistisk Folkeparti og Enhedslisten.

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Ny lovgivning

- Intet nyt

Nyt fra Ankestyrelsen

- Intet nyt

Andet

- Intet nyt

2 | EUROPÆISK OG INTERNATIONAL RET

Nyt fra Kommissionen

Antitrust

Commission accepts commitments by Aspen to reduce prices for six off-patent cancer medicines by 73% addressing excessive pricing concerns.

The European Commission has made commitments offered by Aspen legally binding under EU antitrust rules. Aspen has to reduce its prices in Europe for six critical cancer medicines by 73% on average. In addition, Aspen has to ensure the continued supply of these off-patent medicines for a significant period.

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Cartels

eConfidentiality is now available: a new online IT tool designed to host and orchestrate the confidentiality negotiations process in a secure workspace.

Parties can use eConfidentiality to claim confidentiality on documents when DG Competition intends to give access to the file or publish a decision. eConfidentiality provides a platform to submit, substantiate and negotiate confidentiality claims with DG Competition. eConfidentiality supports the entire process up to the registration of final non-confidential documents, free of business secrets and other confidential information.

The system automates and streamlines the process in a secure workspace.

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Offentliggørelsesdato: 25. Februar 2021 Mergers

- Intet nyt State Aid

Commission invites stakeholders to provide comments on revised State aid rules on Important Projects of Common European Interest

The European Commission has launched a public consultation inviting all interested parties to comment on a proposed targeted revision of the Communication on State aid rules for Important Projects of Common European Interest (the “IPCEI Communication”). Stakeholders can respond to the consultation for eight weeks, until 20 April 2021.

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Offentliggørelsesdato: 23. februar 2021 Andet

Group of Experts on Licensing and Valuration of Standard Essential Patents ’SEPs Experts Group’:

Contribution to the Debate on SEPs

The expert group was set up by a Commission Decision in July 2018. The main task of the expert group was to provide the Commission with economic, legal and technical expertise and to assist the Commission to inform policy measures that it may take to ensure a balanced framework for smooth, efficient and effective licensing of SEPs.

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Offentliggørelsesdato: 24. januar 2021

Commission publishes report on barriers in EU retail energy markets

A new externally-contracted study on barriers in European retail energy markets has been published by the European Commission this week aimed at identifying remaining retail market hurdles, assessing their significance and suggesting potential ways of overcoming these issues. In global terms, the study comprises a final report, 28 country-specific handbooks (for every Member State except Malta, plus Norway and Great Britain) and a European Barriers Index Ranking report. It follows more than 12 months of exchanges with around 150 suppliers, and relevant national regulatory authorities and other stakeholders.

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Public consultation: Air travel – computerised reservation systems (updated rules)

With the spread of the internet and new technologies, the way we book flights has changed a lot in the past 10 years and there are far more channels for doing so. Because of this, the EU rules on distributing air travel tickets via computerised reservation systems need to be reviewed, to assess if they are still fit for purpose.

This initiative will examine options for updating the rules where necessary.

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Feedbackperiode: 23. februar til 18. maj 2021

Proposal for a Regulation of the European Parliament of the Council on roaming on public mobile communications networks within the Union.

Regulation (EU) No 531/2012 expires on 30 June 2022, therefore the aim of this proposal is to extend it, while adjusting the maximum wholesale charges to ensure sustainability of the provision of retail roaming services at domestic prices, introducing new measures to increase transparency and ensuring a genuine

‘roam-like-at-home’ experience in terms of quality of service and access to emergency services while roaming.

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Offentliggørelsesdato: 24. februar 2021 Management Plan 2021: DG Competition

The management plan defines the most important outputs DG Competition will deliver in 2021 to achieve the objectives set out in its strategic plan 2020-2024. The management plan follows the structure of the strategic plan and reflects the priority policy actions identified in the Commission Work Programme for 2021. In 2021, the planned outputs contribute in particular to the Commission headline ambitions “A European Green Deal”,

“A Europe fit for the digital age” and “An economy that works for people”. EU competition policy strives to shape global economic governance by strengthening international cooperation in competition enforcement and making steps towards increased convergence of competition policy instruments across different jurisdictions.

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Meddelelse fra Europa-Kommissionen om værktøjer til bekæmpelse af ulovlig samordning I

forbindelse med offentlige udbud og vejledning om anvendelse af den relevante udelukkelsesgrund (2021/C 91/01). I meddelelsen beskrives de værktøjer, som Kommissionen forventer at udbrede for effektivt at bistå medlemsstaterne og deres ordregivende myndigheder i indsatsen for at bekæmpe

ulovlig samordning i forbindelse med offentlige udbud. Disse værktøjer har til formål at støtte

medlemsstaterne og de ordregivende myndigheder I deres opbygning af kapacitet til at løse problemer med ulovlig samordning, og at fremme samarbejdet mellem nationale centrale udbuds- og

konkurrencemyndigheder.

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Commission published factual summary of the contributions received in the context of the public consultation on the evaluation of the Motor Vehicle Block Exemption Regulation (EU) No 461/2010 The European Commission is currently evaluating the functioning of the motor vehicle block exemption rules, comprising the Motor Vehicle Block Exemption Regulation (EU) No 461/2010, the application of the General Block Exemption Regulation (EU) No 330/2010 to the motor vehicle sector, along with the Supplementary Guidelines and the Guidelines on vertical restraints. In this context, the Commission launched a public consultation on 12 October 2020, which was finally closed on 25 January 2021. The aim of the consultation was to gather stakeholders’ views and evidence to assess whether and to what extent the objectives of the motor vehicle block exemption rules have been fulfilled, as well as to collect facts on the key competition issues arising in vertical relationships in the motor vehicles sector.

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Offentliggørelsesdato: 2021

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The EU Digital Markets Act: A Report from a Panel of Economic Experts

Over the last years, several reports highlighted the market power of very large online platforms that are gatekeeping intermediaries between businesses and consumers, and the difficulty for classic competition policy tools to deal effectively with anti-competitive practices in these platforms. In response to this, the European Commission recently published a proposal for a Digital Markets Act (DMA) to complement existing competition policy tools by means of ex-ante obligations for platforms. This report presents an independent economic opinion on the DMA, from a high-level Panel of Economic Experts, established by the JRC and based on existing economic research and evidence.

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Offentliggørelsesdato: 2021

Nyt fra EU-domstolen

Domme

C-407/19 – Katoen Natie Bulk Terminals og General Services Antwerp

Anmodningerne om præjudiciel afgørelse vedrører i sag C-407/19 fortolkningen af artikel 34 TEUF, artikel 35 TEUF, artikel 45 TEUF, artikel 49 TEUF, artikel 56 TEUF, artikel 101 TEUF, artikel 102 TEUF og artikel 106, stk. 1, TEUF og i sag C-471/19 fortolkningen af artikel 49 TEUF og 56 TEUF, artikel 15 og 16 i Den

Europæiske Unions charter om grundlæggende rettigheder og lighedsprincippet. Anmodningerne er blevet indgivet i forbindelse med tvister mellem – i sag C-407/19 – på den ene side Katoen Natie Bulk Terminals NV og General Services Antwerp NV og på den anden side Belgische Staat (den belgiske stat) og – i sag C- 471/19 – Middlegate Europe NV og Ministerraad (ministerrådet, Belgien) vedrørende gyldigheden af visse bestemmelser i belgisk ret om organiseringen af havnearbejde og navnlig om disse bestemmelsers forenelighed med EU-retten.

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Offentliggørelsesdato: 11. februar 2021 T-259/20 – Ryanair mod Kommissionen

Ryanair har anlagt søgsmål mod Europa-kommissionen i henhold til artikel 263 TEUF med påstand om annullation af Kommissionens afgørelse C(2020) 2097 final af 31. marts 2020 om statsstøtte SA.56765 (2020/N) – Frankrig – COVID-19 – betalingsmoratorium for luftfartsafgifter til fordel for offentlige lufttransportvirksomheder.

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Offentliggørelsesdato: 17. februar 2021 T-238/20 – Ryanair mod Kommissionen

Ryanair DAC har anlagt søgsmål mod Europa-Kommissionen i henhold til artikel 263 TEUF med påstand om annullation af Kommissionens afgørelse C(2020) 2366 final af 11. april 2020 om statsstøtte SA.56812 /2020/N) – Sverige – COVID-19: lånegarantiordning for luftfartsselskaberne.

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C-689/19 P – VodafoneZiggo Group mod Kommissionen

VodafoneZiggo Group BV har med sin appel nedlagt påstand om ophævelse af Den Europiske Unions Rets kendelse af 9. juli 2019, VodafoneZiggo Group mod Kommissionen (T-660/18, EU:T:2019:546), hvorved Retten afviste VodafoneZiggos søgsmål med påstand om annullation af den afgørelse, der angiveligt er indeholdt i Europa-Kommissionens skrivelse af 30. august 2018 til Autoriteit Consument en Markt (forbruger- og markedsmyndigheden, Nederlandene), med dens bemærkninger til udkastet til to foranstaltninger, som den nederlandske tilsynsmyndighed har stillet til rådighed om markedet for engrosforsyning på et fast sted i Nederlandene (sag NL/2018/2099 og NL/2018/2100) (C(2018) 5848 final.

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Offentliggørelsesdato: 25. februar 2021 C-857/19 – Slovak Telekom

Anmodningen om præjudiciel afgørelse vedrører fortolkningen af artikel 11, stk. 6, første punktum, i Rådets forordning (EF) nr. 1/2003 af 16. december 2002 om gennemførelse af konkurrencereglerne i [artikel 101 TEUF og 102 TEUF] (EFT 2003, L 1, s. 1) og af artikel 50 i Den Europæiske Unions charter om

grundlæggende rettigheder. Denne anmodning er blevet indgivet i forbindelse med en tvist mellem Slovak Telekom a.s. og Protimonopolný úrad Slovenskej republiky (Den Slovakiske Republiks

konkurrencemyndighed) vedrørende lovligheden af en afgørelse, hvorved ST er blevet pålagt en bøde for at have misbrugt sin dominerende stilling som omhandlet i artikel 102 TEUF ved at anvende takster på

detailmarkederne for telekommunikation og engrosmarkedet for samtrafik, som har medført et avancepres.

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C-425/19 P – Kommissionen mod Italien m.fl.

Med sit appelskrift har Europa-Kommissionen nedlagt påstand om ophævelse af Den Europæiske Unions Rets dom af 19. marts 2019, Italien m.fl. mod Kommissionen (T-98/16, T-196/16 og T-198/16,

EU:T:2019:167), hvorved Retten annullerede Kommissionens afgørelse (EU) 2016/1208 af 23. december 2015 om statsstøtte ydet af Italien til Banca Tercas (sag SA.39451 (2015/C) (ex 2015/NN)) (EUT 2016, L 203, s. 1).

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Offentliggørelsesdato: 2. marts 2021 C-434/19 – Poste Italiane

Anmodningerne om præjudiciel afgørelse vedrører fortolkningen af artikel 14 TEUF, 102 TEUF, 106 TEUF og 107 TEUF. Disse anmodninger er blevet indgivet i forbindelse med tvister mellem for det første Poste Italiane SpA og Riscossione Sicilia SpA agente riscossione per la provina di Palermo e delle altre

provinciane e siciliane (herefter »Riscossione Sicilia«) (sag C-434/19), og, for det andet, mellem Agenzia delle entrate – Riscossione (Skatteforvaltningen – Opkrævning, Italien) og Poste Italiane (sag C-435/19) vedrørende krav om betaling af gebyrer, som Poste Italiane har fremsat over for de koncessionshavere, der er ansvarlige for opkrævningen af imposta comunale sugli immobili (kommunal ejendomsskat) for tjenester i form af forvaltning af de nævnte koncessionshaveres postgirokonti med henblik på opkrævning af kommunal ejendomsskat hos de afgiftspligtige.

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C-362/19 P – Kommissionen mod Fútbol Club Barcelona

Europa-Kommissionen har ved sin appel nedlagt påstand om ophævelse af Den Europæiske Unions Rets dom af 26. februar 2019, Fútbol Club Barcelona mod Kommissionen (T-865/16, EU:T:2019:113), hvorved Retten annullerede Kommissionens afgørelse (EU) 2016/2391 af 4. juli 2016 om statsstøtte SA.29769 (2013/C) (ex 2013/NN) som Spanien har gennemført for visse fodboldklubber (EUT 2016, L 357, s. 1) Læs mere

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C-596-19 P – Kommissionen mod Ungarn

Med sit appelskrift har Europa-Kommissionen nedlagt påstand om ophævelse af Den Europæiske Unions Rets dom af 27. juni 2019, Ungarn mod Kommissionen (T-20/17, EU:T:2019:448), hvorved Retten

annullerede Kommissionens afgørelse 2017/329 af 4. november 2016 om foranstaltning SA.39235 (2015/C) (ex 2015/NN) gennemført af Ungarn om afgifter på reklameomsætning (EUT 2017, L 49, s. 36).

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Offentliggørelsesdato: 16. marts 2021 C-562/19 P – Kommissionen mod Polen

Europa-Kommissionen har med sin appel nedlagt påstand om ophævelse af Den Europæiske Unions Rets dom af 16. maj 2019, Polen mod Kommissionen (T-836/16 og T-624/17, EU:T:2019:338), hvorved Retten dels annullerede Kommissionens afgørelse C(2016) 5596 final af 19. september 2016 om statsstøtte SA.

44351 (2016/C) (ex 2016/NN) – Polen – Polsk afgift i detailsektoren, om indledning af den formelle undersøgelsesprocedure efter artikel 108, stk. 2, TEUF vedrørende denne foranstaltning, og hvorved Republikken Polen blev pålagt at indstille anvendelsen af den progressive afgiftssats i detailsektoren, dels Kommissionens afgørelse (EU) 2018/160 af 30. juni 2017 om statsstøtte SA. 44351 (2016/C) (ex 2016/NN), iværksat af Polen vedrørene afgiften i detailsektoren (EUT 2018, L 29, s. 38)

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C-440/19 P – Pometon mod Kommissionen

Med sin appel har Pometon SpA nedlagt påstand om ophævelse af dom afsagt af Den Europæiske Unions Ret den 28. marts 2019, Pometon mod Kommissionen (T-433/16, EU:T:2019:201), hvorved Retten

annullerede artikel 2 i Kommissionens afgørelse C(2016) 3121 final af 25. maj 2016 om en procedure i henhold til artikel 101 TEUF og EØS-aftalens artikel 53 (sag AT.39792 – Stålslibemidler) og fastsatte den bøde, som Pometon blev pålagt, til 3.873.375 EUR.

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Offentliggørelsesdato: 18. marts 2021 Stævning

- Intet nyt

Forslag til afgørelse - Intet nyt

Kendelse - Intet nyt

Andet nyt fra EU-domstolen - Intet nyt

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Andet internationalt nyt

Netherlands Authority for Consumers and Markets publishes Position Paper: Oversight of algorithms The position paper is a starting point from which ACM wishes to develop its oversight of algorithmic

applications further. It offers general guidance for investigations into violations in which algorithmic

applications play a role. The paper first describes why algorithmic applications are relevant to ACM and what exactly are algorithms. Next, it is explained how ACM is able to investigate algorithmic applications in practice.

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Offentliggørelsesdato: 10. december 2020

Policy paper: The CMA’s Digital Markets Strategy: February 2021 refresh

In 2019 the CMA published its first Digital Markets Strategy This recognised the profound changes taking place across the economy, and society more widely, as a result of the growth of digital markets. It set out the CMA’s priorities for its digital work to address these changes and ensure consumers continue to get good outcomes in those markets through competition and innovation. Since that strategy was published much has changed. In light of these changes, strategy has been refreshed. This document sets out the CMA’s aims and key priorities.

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UK Competition and Markets Authority opens consultation on Retained Vertical Block Exemption Regulation.

The CMA is reviewing the retained Vertical Block Exemption Regulation to inform its recommendation to government on replacing it when it expires in May 2022.

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UK Department for Business, Energy & Industrial Strategy and HM Treasury publishes report: Power to the people: independent report on competition policy

An independent report by John Penrose MP on ways to improve consumer protection and promote competition.

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Konkurrensverket udgiver rapport: Konkurrensen på digitala plattformsmarknader i Sverige Syftet med undersökningen är att belysa hur konkurrensen fungerar och identifiera eventuella behov av åtgärder för att främja konkurrensen. Rapporten bygger på studier av 16 olika digitala plattformar inom fem olika marknader i Sverige. De marknader som har undersökts är butiker för mobilappar, digitala

marknadsplatser, abonnemangstjänster för digitala böcker, digitala beställningsplattformar för restaurangmat samt förmedling av digitalt annonsutrymme. I rapporten konstateres det att digitaliseringen har fört med sig mycket gott men också skapat utmaningar. Det gäller inte minst på konkurrensområdet.

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Draft BEREC Report on the ex ante regulation of digital gatekeepers.

On 15 December 2020, the European Commission (EC) published a proposal for a Digital Markets Act (DMA), introducing a series of rules for platforms acting as ”gatekeepers” in the digital sector. BEREC strongly supports the EC’s ambition to create contestable and fair markets in the digital sector for the benefit of European citizens and businesses and is putting forward a set of proposal to making this regulatory intervention swift, effective and future-proof.

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Council of European Energy Regulators publishes Report on Regulatory Frameworks for European Energy Networks 2020

The report provides a general overview of the regulatory regimes applied in 2020, the required efficiency developments and analyses the overall determination of capital costs in EU Member States, Great Britain, Northern Ireland, Iceland and Norway. A major focus is placed on the calculation of an adequate rate of return, the determination of the regulatory asset base (RAB) and the depreciation of assets in the different regulatory regimes. Other important individual parameters and new incentive mechanisms presented in this study should be interpreted in the context of a whole country-specific regulatory regime. Some contents only reflect an ex-ante approach for 2020, while ex-post calculations are yet to be performed.

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IMF Staff Discussion Notes No. 2021/001: Rising Corporate Market Power: Emerging Policy Issues Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.

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BEREC’s Opinion on the revision of the Broadband Cost Reduction Directive

After the diligent work, the Board of Regulators adopted and published the BEREC Opinion on the

Broadband Cost Reduction Directive (BCRD) revision. It is based on previous work related to this topic and the experiences gained by National Regulatory Authorities (NRAs) with the BCRD, particularly as a dispute settlement body and single information point at a national level. The Board of Regulators agrees with the European Commission that the principle of the dispute settlement process is very important. Moreover, BEREC sees that the NRAs can play a vital role in this process at the national level. BEREC also endorses the NRAs role in performing the Single Information Point (SIP) functions that ensure transparency on the existing physical infrastructure available, at least for the NRAs which already perform the function of the SIP.

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BEREC’s Opinion on the Digital Markets Act – Key proposals for a swift, effective and future-proof regulatory intervention on digital gatekeepers

The Body of European Regulators for Electronic Communications (BEREC) published its Opinion on the Commission's (EC) proposal for a Digital Markets Act (DMA) and a draft report on the ex ante regulation of digital gatekeepers. BEREC strongly supports the EC's ambition and advocates making it a reality, ensuring that competition and innovation are encouraged, that end-users’ interests are protected and that the digital environment is open and competitive.

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Public consultation on BEREC Draft Report on harmonised definitions for indicators regarding OTT services, relevant to electronic communications markets

The scope of the draft report is to identify and define harmonised metrics regarding OTT services, which are of interest to National Regulatory Authorities (NRAs) in the scope of fulfilling their tasks. The data is

considered important for many NRAs and BEREC to ensure conformity with the provisions of, or decisions or opinions adopted under Directive (EU) 2018/1972 (“European Electronic Communications Code”) and Regulation (EU) 2018/1971 of the European Parliament and the Council.

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Consultation outcome: Updates to the CMA’s Merger Assessment Guidelines (CMA129)

The CMA has published its updated merger assessment guidelines. These guidelines have been revised in order to bring them up to date with current best practice. The CMA’s previous guidelines were published in 2010, and since then, markets have evolved and changed at a rapid pace. Building on recommendations made by the Furman and Lear reports in 2019 on how the CMA should approach its assessment of digital mergers, the updated guidelines reflect the legal framework within which the CMA undertakes merger assessments and have been updated to take account of the CMA’s recent experience and case law.

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Sidst opdateret: 18. marts 2021

UK Government Press Release: Business Secretary launches major overhaul of UK’s audit regime in wake of big-name company collapses

The government is launching a consultation on wide-ranging reforms to modernise the country’s audit and corporate governance regime.

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CMA publishes Merger Assessment Guidelines

The publication explains the substantive approach of the Competition and Markets Authority to its analysis when investigating mergers and supersedes the Merger Assessment Guidelines from 2010.

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3 | LITTERATUR (DK)

Artikler fra UfR

U.2021B.80/6 – Jesper Kruse Markvart, Christian Bergqvist, Peter Stig Jacobsen: Konkurrenceretlige Emner – Udvalgte juridiske kandidatafhandlinger

Denne bogserie med udvalgte juridiske kandidatafhandlinger udgives af advokatfirmaet Bech Bruun og er også tilgængelig fra firmaets hjemmeside på www.bechbruun.com. Seriens bind 1/2019 indeholdt bidrag om kartelfacilitering, den retlige bedømmelse af konsortier, pay-for-delay aftaler i lægemiddelindustrien samt rummet for selektiv distribution i lyset af EU-Domstolens dom i Sag C-230/16 (Coty). Bind 2/2019 havde bidrag om urimeligt høje priser, overgangen til en ”more economic approach” i konkurrencesager og diskriminerende misbrug. I Bind 1/2020, behandledes bidrag om kartelbegrebet og licensnægtelse, mens bind 2/2020, der udkom kort før jul, behandler bidrag om mestbegunstigelsesklausuler, præimplementering og dominerende virksomheders pligt til at levere data til tredjemand.

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Nye publikationer fra Erhvervsministeriet

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Artikler fra Juristen

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Artikler fra Erhvervsjuridisk Tidsskrift

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Artikler fra Revision og Regnskabsvæsen

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Artikler fra EU og Menneskeret

- Intet nyt

Konkurrenceretlige emner

- Intet nyt

Anden dansk og nordisk litteratur

Europarättslig tidskrift - nr. 1 2021

 Ur led är tiden – några tanker om folkets men också EU:s makt att bestämma. Af Jaan Paju

 Investment Protection in National Courts and the ECJ in Light of the Rule of Law Crisis. By Stefan Mayr

 From Good Neighbours to Brothers in Arms? The EU Charter as Avenue For Horizontal Constitutional Interaction. By Marco Galimberti

 Effectiveness of EEA Law and other General Principles: Some Thoughts after a Literature Review

 The Transformation of EU Equality Law: From a Common Market Issue to a Fundamental Right. By Paul Lappalainen

 Den svenska datalagringen i ljuset av Tele2-domen. Att balansera personlig integritet mot effektiv brottsbekämpning. Af Karolina Fuhrman

 Regeringsformen 1:10 och 10:6 – i mystikens skymningsland? Eller blott tankeröra? Af Göran Lysén

 EU-rättsliga avgöranden av affärsjuridiskt intresse. Augusti-oktober 2020. Af M. Bishop, M. Gallouze, V. Gunnerek, C. Holmsten, M. Johansson, H. Josefson og E. Thoms

 Staten som enskild – en kommentar kring frågan om staten som anbudsgivare i upphandlingar. Af Olle Lindberg og Erik Olsson

 Europadomstolens domar. Under oktober-december 2020. Af Anna Rogalska Hedlund

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4 | LITTERATUR (UK)

Artikler fra European Competition Law Review

Volume 42, issue 4, 2021

 Editorial by Alexander M. Waksman

 Incentivising compliance with competition law: could liability insurance be the answer?

 EU competition law and the “just price” in times of crisis. By Emiliano Marchisio

 Sabre/Farelogix and the jurisdiction of the UK’s competition & Markets Authority to review international transactions. By Simon Albert

 The curious absence of collective dominance in the Indian competiton law regime – is an amendment to section 4 the only answer? By Prakhar Bhatnagar

 Algorithms and collusion. By Giulia Sonderegger

 Big Tech and the Digital Economy: The Moligopoly Scenario (Publication Review). By Nicolas Petit

 Czech Republic: governance – national competition authority. By Tomáš Fiala

 Czech Republic: anti-competitive practices – powers of investigation (Case Comment). By Tomáš Fiala

 Czech Republic: anti-competitive practices – restrictive practices (Case Comment). By Tomáš Fiala

 Estonia: remedies for breach of competition law – claim for damages (Case Comment). By Katri Paas-Mohando

 European Union: anti-competitive practices – judgment (Case Comment). By Bruce Wardhaugh

 France: anti-competitive practices – cartel. By Emmanuel Reille

 France: national competition priorities – digital sector. By Emmanuel Reille

 Germany: competition law reform – enforcement. By Ingo Klauß

 Hong Kong: anti-competitive practices – judgment (Case Comment). By Sandra Marco Colino

 Ireland: mergers – merger control. By Vincent J. G. Power SC

 Latvia: market investigation – market inquiry. By Ivo Maskalāns

 Portugal: mergers – concentration (Case Comment). By Marta Flores da Silva

 Portugal: national competition policy – competition priorities for 2021. By Marta Flores da Silva

 Portugal: competition law reform – competition law. By Marta Flores da Silva

 Romania: anti-competitive practices – abuse of a dominant position (Case Comment). By Cristina de Jonge

 Romania: anti-competitive practices – cartels (Case Comment). By Cristina de Jonge

 Spain: competition law reform – food sector (Legislative Comment). By Pedro Callol

 Spain: anti-competitive practices – enforcement (Case Comment). By Pedro Callol

 Spain: anti-competitive practices – court judgment (Case Comment). By Pedro Callol

 Switzerland: state aid – state aid for undertakings in aviation sector. By Eva Peter

 Turkey: anti-competitive practices – cartel allegation (Case Comment). By Gönenç Gürkaynak

 United Kingdom: anti-competitive practices – cartel (Case Comment). By Alex Nourry

Artikler fra European Competition Journal

- Intet nyt

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Artikler fra Journal of Competition Law and Economics

Volume 17, issue 1 – marts 2021

 Openness and Integrity in Antitrust. By Stavros Makris

 An Event Study Analysis of the Impacts of the European Interchange Fee Regulation. By Alen Veljan and Ali Roaidi

 Merger Policy in Digital Markets: An Ex Post Assessment. By Elena Argentesi, Paolo Buccirossi, Emilio Calvano, Tomaso Dusi and Alessia Marrazzo

 A Financial Capitalsim Perspective on Start-Up Acquisitions: Introducing the Economic Goodwill Test. By Andrew P. McLean

 Attitudes Toward Collusion in Chile. By Umut Aydin

 Preempting the Entry of Near Perfect Substitutes. By Vilen Lipatov, Damien Neven, Georges Siotis

 Lessons for Future Excessive Pricing Cases From Economics and the Court of Appeal Judgment in Pfizer/Flynn. By Peter Davis

 The Ban of Off-Net/On-Net Price Discrimination in Chile. By Claudio A. Agostini, Manuel Willington and Eduardo Saavedra

Artikler fra Journal of Antitrust Enforcement

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Artikler fra Competition Policy Brief

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Artikler fra Competition Merger Brief

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Artikler fra Journal of European Competition Law and Practice

Volume 12, Issue 2 – februar 2021

 Lessons to Learn from Brazil’s Competition Law and Practice. By Ana Paula Martinez

 Germany’s ‘Lex Apple Pay’: Payment Services Regulation Overtakes Competition Enforcement. By Jens-Uwe Franck and Dimitrios Linardatos

 Antitrust and Data: What Your Car Knows and Who It Should Tell. By John Clark

 Venture into the Unknown? The Exchange of Information Within Joint Ventures Under Article 101 TFEU. By Rhiannon Pugh

 Casino, Guichard-Perrachon and AMC v Commission, Intermarché Casino Achats v Commission, Les Mousquetaires and ITM Entreprises v Commission: The Commission’s Powers of Inspection are Examined in the Light of the Charter. By Carla Farinhas

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 The Turkish Competition Authority’s Google Shopping Decision: Does It Hit The Bull’s Eye? By Kadir

 Comparing the Role of Economics/Effects-Based in Antitrust Enforcement and Its Relation to the Baş Judicial Review in the EC to Other Countries. By Y. Katsoulacos, S. Avdasheva, K. Benetatou, S.

Golovanova and G. Makri

 The Application of Competition Law to the Pharmaceutical Sector in the European Union. By David W. Hull and Michael J. Clancy

 Corrigendum to: Three v Commission: The Maturation of the Economic Approach in Competition Case Law. By Dirk Auer and Nicolas Petit

Artikler fra World Competition

Volume 44, issue 1 – 2021

 Editor’s note. By José Rivas

 The Challenge of Sanctioning Unfair Royalty Rate by the SEP Holder: ‘When’, ‘How’ and ‘What’. By Marco Botta

 The German Facebook Saga: Abuse of Dominance or Abuse of Competition Law? By Roger Van den Bergh and Franziska Weber

 Horizontal Restraints on Platforms: How Digital Ecosystems Nudge into Rethinking the Construal of the Cartel Prohibition. By Stefan Thomas

 The Role of (In)formal Governance and Culture in a National Competition System: A Case of a Post- Socialist Economy. By Jasminka Pecotic Kaufman and Ružica Šimic Banovic

 Predatory pricing and Platform Competition in India. By Akanshha Agrawal

 Book Review: Interaction Between Competition Law and Corporate Governance: Opening the ‘Black Box’, Florence Thépot. Cambridge University Press. 2019. By Spencer Weber Waller

Artikler fra European Journal of Law and Tecnology

- Intet nyt

Artikler fra Antitrust Law Journal

- Intet nyt

Artikler fra Antitrust Bulletin

- Intet nyt

Artikler fra Journal of the European Economic Association

Volume 19, issue 1 – februar 2021

 Security, Trade and Political Violence. By Francesco Amodio, Leonardo Baccini and Michele Di Maio

 Buying First or Selling First in Housing Markets. By Espen R. Moen, Plamen T. Nenov and Florian Sniekers

 Fertile Ground for Conflict. By Nicolas Berman, Mathieu Couttenier and Raphael Soubeyran

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 Low Homeownership in Germany – a Quantitative Exploration. By Leo Kaas, Georgi Kocharkov, Edgar Preugschat and Nawid Siassi

 Too Proud to Stop: Regret in Dynamic Decisions. By Philipp Strack and Paul Viefers

 Reputation With Opportunities for Coasting. By Heski Bar-Isaac and Joyee Deb

 Cutting Through the Fog: Financial Literacy and Financial Investment Choices. By Marco Nieddu and Lorenzo Pandolfi

 Liquidity Insurance with Market Information. By Luigi Iovino

 The Politico-Economic Dynamics of China’s Growth. By Yikai Wang

 External Imbalances, Gross Capital Flows, and Sovereign Debt Crises. By Sergio de Ferra

 Housing Wealth or Collateral: How Home Value Shocks Drive Home Equity Extraction and Spending. By Henrik Yde Andersen and Søren Leth-Petersen

 Can Tolling Help Everyone? Estimating the Aggregate and Distributional Consequences of Congestion Pricing. By Jonathan D. Hall

 Frequent Job Changes can Signal Poor Work Attitude and Reduce Employability. By Alain Cohn, Michel André Maréchal, Frédéric Schneider and Roberto A. Weber

 The Market for Surprises: Selling Substitute Goods Through Lotteries. By Filippo Balestrieri, Sergei Izmalkov and Joao Leao

 Accounting for the Rise of Health Spending and Longevity. By Raquel Fonseca, Pierre-Carl Michaud, Titus Galama and Arie Kapteyn

 Pollution, Ability, and Gender-Specific Investment Responses to Shocks. By Teresa Molina

 Accounting for Wealth-Inequality Dynamics: Methods, Estimates, and Simulations for France. By Bertrand Garbinti, Jonathan Goupille-Lebret and Thomas Piketty

 On the Provision of Unemployment Insurance when Workers are Ex-Ante Heterogeneous. By Ofer Setty, Yaniv Yedid-Levi

Artikler fra Competition Law and Policy Debate

- Intet nyt

Artikler fra Competition Law Scholars Forum

- Intet nyt

Artikler fra Journal of Economics and Management Strategy

Volume 30, issue 1 – forår 2021

 Entry threat, entry delay, and Internet speed: The timing of the U.S. broadband rollout. By Kyle Wilson, Mo Xiao and Peter F. Orazem

 How does competition among lodging sharing platforms affect welfare and profits? By Esther Gal-Or

 The effects of ambiguity on entrepeneurship. By Claudio A. Bonilla and Pablo A. Gutiérrez Cubillos

 Incentives of low-quality sellers to disclose negative information. By Dmitry Shapiro and Seung Huh

 Collusive equilibria with switching costs: The effect of consumer concentration. By Guillem Roig

 There is no ‘I’ in team: Career concerns, risk-taking incentives, and team outcomes. By Phong T. H.

Ngo and Steven Roberts

 Harnessing the power of social incentives to curb shirking in teams. By Brice Corgnet, Brian Gunia

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 Persistent and snap decision-making. By Tomoya Tajika

 The production economics of economics production. By Yushan Hu and Ben G. Li

Artikler fra Journal of Regulatory Economics

 Loyalty taxes in retail electricity markets: not as they seem? By Bruce Mountain & Kelly Burns

 Cost efficiency and endogenous regulatory choices: evidence from the transport industry in France.

By Joanna Piechucka

 The relationship between capital and liquidity prudential instruments. By Martin Hodula, Zlatuše Komárková and Lukáš Pfeifer

 Measuring technical efficiency and shadow price of water pollutants for the leather industry in India:

a directional distance function approach. By Aparajita Singh and Haripriya Gundimeda

 The strategic impact of voluntary vs. mandated vertical restraints and termination restrictions on exclusion of rivals. By Jacob Burgdorf

Artikler fra International Review of Law and Economics

- Intet nyt

Artikler fra European Economic Review

Volume 132, februar 2021

 Endogenous growth, firm heterogeneity and the long-run impact of financial crises. By Tom Schmitz

 Political activism as a determinant of strategic transfers: Evidence from an Indian public works program. By Nancy H. Chau, Yanyan Liu, Vidhya Soundararajan

 Real consequences of open market operations: The role of limited commitment. By Francesco Carli and Pedro Gomis-Porqueras

 Influence in weighted committees. By Sascha Kurz, Alexander Mayer and Stefan Napel

 Structure of income inequality and household leverage: Cross-country causal evidence. By Rémi Bazillier, Jérôme Héricourt and Samuel Ligonnière

 Costly default and skewed business cycles. By Patrick Fève, Pablo Garcia Sanchez, Alban Moura, Olivier Pierrard

 The baby boomers and the productivity slowdown. By Guillaume Vandenbroucke

 Economic development and the structure of cross-technology interactions. By Anton Bondarev and Frank C. Krysiak

 Collusion, price dispersion, and fringe competition. By Nicolas de Roos and Vladimir Smirnov

 Optimal growth through innovation, investment, and labor. By Jing Wan and Jie Zhang

 A model of endogenous direct and indirect asset liquidity. By Athanasios Geromichalos, Kuk Mo Jung, Seungduck Lee and Dillon Carlos

 The missing option in firm boundary decisions. By Mengxiao Liu

 Optimal carbon abatement in a stochastic equilibrium model with climate change. By Christoph Hambel, Holger Kraft, and Eduardo Schwartz

 The fall in German unemployment: A flow analysis. By Carlos Carrillo-Tudela, Andrey Launov and Jean-Marc Robin

 Designing QE in a fiscally sound monetary union. By Tilman Bletzinger and Leopold von Thadden

 GVCs and the endogenous geography of RTAs. By Lionel Fontagné and Gianluca Santoni

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 Missing wage inflation? Estimating the natural rate of unemployment in a nonlinear DSGE model. By Yuto Iwasaki, Ichiro Muto and Mototsugu Shintani

 The ghost of institutions past: History as an obstacle to fighting tax evasion? By Aaron Kamm, Christian Koch and Nikos Nikiforakis

 Digital antianxiety treatment and cognitive performance: An experimental study. By Elisa Cavatorta, Simona Grassi, and Mark Lambiris

 The interest rate exposure of euro area households. By Panagiota Tzamourani

 Pooled procurement of drugs in low and middle income countries. By Pierre Dubois, Yassine Lefouili and Stéphane Straub

 Do digital information technologies help unemployed job seekers find a job? Evidence from the broadband internet expansion in Germany. By Nicole Gürtzen, André Diegmann (né Nolte), Laura Pohlan and Gerard J. van den Berg

 Fiscal multipliers and job-protection regulation. By Matteo Cacciatore, Romain Duval, Davide Furceri, and Aleksandra Zdzienicka

Artikler fra Competition Law Journal

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Artikler fra European Competition and Regulatory Law Review

 Editorial. By Robert Klotz

 Tacit Collusion and the Boundaries of Competition Law: The Parallel Case of Common Ownership and Algorithmic Pricing. By John Weche and Thomas Weck

 Changing Competition Law for the Digital Sector. By Kiran Desai

 After 19 years of Complete Oblivion, Are Interim Measures the European Commission’s New Panacea to Enforce Article 102 TFEU in the Digital Age? By Richard Masquelier

 Belgium: The Allocation of Radio Spectrum and the Different Faces of Transparency. By Jeroen Dewispelaere and Sandrine Verstraete

 Finland: The FCCA Proposes Fines for Resale Price Maintenance for the First Time in a Decade. By Satu-Anneli Kauranen

 Norway: Norwegian Start-Up Acquisition Blocked to Protect Competition on Digital Platforms. By Pernille Edh Hasselgård

 Spain: Legal Framework and Trends in Corporate Fines to Cartels. By Jerónimo Maillo

 The Telenor Case: The (In)compatibility of Zero-rating with the Net-Neutrality Principle (C-807/18 and C-39/19 Telenor Magyarország). By Amaryllis Müller and Koo Asakura

 The Independence of National Regulatory Authorities: Is There Now an Autonomous EU Law Concept of Independence of General Application? (C-378/19 President of the Slovak Republic). By Francesco Rizzuto

 Book Review. By Jan Broulík

Artikler fra Communications Law

Volume 26, issue 1 - 2021

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 Depp v News Group Newspapers [2020] EWHC 2911 (QB) (Case Comment)

 Practice note: contempt of court

 Artificial intelligence impacts: a business and human rights approach. By Robert McCorquodale and Melanie Tse

 European patent policy levers in the software industry. By Maurice Schellekens

 IT service contracts: the myth about customer responsibilities. By Clive Davies

 Common knowledge and social media (Case Comment)

 Honest opinion and summary judgment (Case Comment)

 Satire and meaning (Case Comment)

Artikler fra Computer and Telecommunications Law Review

Volume 27, issue 2 – 2021

 Revised guidelines for examination in the European Patent Office: patentability of database management systems and information retrieval. By Britta Fischer

 Recent Japanese legal AI/IoT data utilisation developments. By Fumiaki Chida

 The “right to an explanation” of automated decision-making systems – highlights of the EU legal landscape referring to explainable AI: Part 1. By Maja Nisevic

 ECJ rules on phone and internet data surveillance (Case Comment). By Mark Lubbock

 Smart roads. By Will Gill

 International initiatives and electronic signatures. By Stephen Mason

 EC computing, telecommunications and related measures. By Quentin Archer, Hannah Schofield, Mary Foord-Weston and James Sharp

 US federal computing, telecommunications and related measures. By David E. Halliday

Artikler fra Global Competition Litigation Review

Volume 14, issue 1 – 2021

 The case for harmonising fault in private enforcement of EU competition law. By Tomas Balciunas and Jasper P. Sluijs

 Estimation of cartel damages in competition litigation in Germany – 15 per cent as the new standard? By Tilman Makatsch and Babette Kacholdt

 Antitrust damages claims in Spain. By Francisco Marcos

 Company group liability and extra-territorial jurisdiction: the considerable post-Brexit obstacles to the UK as a major forum for competition law damages actions. By Grant Stirling

 Case analysis Uber (India) Systems Private Ltd v Competition Commission of India (2019) 8 Supreme Court Cases 697. By Prakhar Agarwal

 Germany: German Federal Supreme Court paves the way for successful damages actions in the trucks cartel litigation. By Volker Soyez

 Spain: update on private litigation in the truck cartel in Spain. By Luis Ortiz Blanco, Konstantin Jorgens and Fiona Radley-Searle

 EU General Court upholds compatibility of ISU’s Appeals Arbitration Rules with art. 101 TFEU. By Gordon Blanke

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Andre udenlandske artikler

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5 | NYT FRA KONKURRENCEGRUPPEN

Christian Bergqvist: What Does an Appreciable Negative Effect on Competition Mean?

Throughout the years, much intellectual energy has been invested into drawing the line between being anti- competitive by object or by effect, ignoring that an infringement must also be appreciable. Most likely based on a presumption that this is no longer a separate requirement, but part of analyzing the former. However, case law does not render full support for this, thus making it necessary to revisit the issue of being

appreciable as a potential separate requirement.

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