This letter was sent to the Director-General for Competition at the European Commission to express the Chamber's serious concerns in relation to the European Commission Guidance on the application of the referral mechanism set out in Article 22 of the EU Merger Regulation.
In particular, the Chamber finds that the Commission Guidance introduces a paradigm shift that (1) creates significant uncertainties for businesses, including those with little or no presence in the EU, (2) adversely and disproportionately impacts industry, (3) rests on a dubious legal basis, and (4) lacks adequate stakeholder consultation, which is especially important considering its dramatic, worldwide impact.
The Chamber respectfully urges the Commission to reconsider its new approach to Article 22, suspend the Commission Guidance, and engage in a full consultation on the impact of the proposed changes.
