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EU court backs $29 million EU fine for gun jumping at Canon


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BRUSSELS – Europe’s second highest court on Wednesday awarded a fine of 28 million euros ($29.4 million) against Japanese camera and printer maker Canon for closing a 2016 acquisition before EU regulations were approved.

“The (European) Commission has therefore rightly pointed out that the case law of the Court of Justice makes a distinction between the concepts of ‘concentration’ and ‘implementation of a concentration”, according to the Luxembourg General Court.

The case is T-609/19 Canon V Commission.

($1 = 0.9515 euros) (Report by Foo Yun Chee)

This post EU court backs $29 million EU fine for gun jumping at Canon

was original published at “https://financialpost.com/pmn/business-pmn/eu-court-backs-29-mln-eu-gun-jumping-fine-against-canon”

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