AFEP member companies, which operate globally, consider that the modernisation of competition law is strategic and cannot be limited to the review of the relevant market. It should also address the competition analysis carried out by the Commission, that should:
- Retain a more comprehensive economic and legal analysis of the relevant market. The three criteria of competitive constraints (substitution on the demand and supply side, and also the potential competition currently not taken into account) should be applied in a modulated but not cumulative manner and a dynamic temporality has to be integrated into this analysis. The Commission must also take better account of the potential external competition on the internal market from non-European competitors (extend the analysis to 3-4 years);
- Integrate digital and structural changes in the product and geographic dimensions of the market and the calculation of market shares, such as free services, two-sided markets, barriers to entry and the market powers of the most structuring platforms.
- Include in the analysis the market power of the concerned non-European companies by taking better account of international competition and its impact on the internal market (captive markets, subsidies from third countries, etc.).
- Allow better consideration of EU interests (environment, digital, industrial policies…) and of impacts in areas other than just competition. It is therefore essential to strengthen inter-service consultations within the European Commission upon notification of the transaction.