56 Federal Communications Law Journal 87 (2003)
As a result of the recent telecommunications industry slowdown and the rise of globally integrated communications networks, mergers and acquisitions have become a commonplace occurrence throughout the developed world. In this article, Calvin Goldman, Michael Piaskoski and Ilene Gotts review recent merger and acquisition activity and discuss how the decisions to allow or deny “M&A” are viewed by regulatory agencies in the United States, the European Union, and Canada. The first part of this article addresses these three parties’ approaches to M&A consideration and how the concept of “efficiencies” generated by consolidation enters those deliberations. The authors then explore the finer points of “competition review” in the United States, European Union, and Canada and then discuss the individual propensities of these three regulators to consider the proposed efficiencies of telecommunications mergers and acquisitions. The authors conclude that while Canada has been increasingly deferential to proposed efficiencies, and the United States and especially the European Union have remained somewhat reluctant to consider efficiencies arguments, that understanding the complexities of efficiencies review is increasingly critical in the developed world.
Goldman, Calvin S. Q.C.; Gotts, Ilene Knable; and Piaskoski, Michael E.
"The Role of Efficiencies in Telecommunications Merger Review,"
Federal Communications Law Journal: Vol. 56
, Article 4.
Available at: http://www.repository.law.indiana.edu/fclj/vol56/iss1/4