FRANCE Trends and Developments Contributed by: Malik Idri and Mathieu Relange, FTPA Avocats
The second option would have introduced a new mandatory filing trigger for undertakings with a certain degree of market power, such as companies previ - ously subject to remedies or fines in merger or abuse cases, or designated gatekeepers under the DMA. The third option consisted in relying on existing anti - trust provisions to review and, where appropriate, sanction anti-competitive concentrations ex post. The feedback in this public consultation was broadly favourable to the first, more targeted “call-in” model, while the second option was heavily criticised on legal certainty grounds. Stakeholders also emphasised that using antitrust rules in this way should remain exceptional, while rec - ognising that it does not require any change to the law. In practice, the FCA has already shown that this tool is very much available, as illustrated by its Doctolib decision (see above). In April 2025, the FCA announced its intention to for - mally introduce a call-in power based on both quanti - tative and qualitative criteria, with a view to submitting a legislative proposal to the French public authorities in due course. Sector monitoring as a preventive tool: the case of veterinary clinics The FCA has the power to conduct sector inquiries, and to issue opinions, sometimes at its own initia - tive. This power often allows it to map consolidation dynamics that fall outside the formal merger control regime. Opinion No 25 A 12 of 13 October 2025, issued at the request of the Minister for the Economy, illustrates this. The FCA examined the competitive functioning of the markets for veterinary medicines and veterinary care in France, against the backdrop of the growing importance of so-called “corporate” clinic networks controlled by non-veterinary investors. The opinion highlights already significant, and in some cases very high, levels of concentration at the level of certain regions and municipalities, resulting from a succession of acquisitions of veterinary clinics fre -
quently carried out outside the scope of merger con - trol. While the FCA acknowledged that these networks may generate efficiency gains (economies of scale, pooling of costs and investments), it also stressed that such levels of concentration are liable, in the longer term, to weaken local competition, reduce the diver - sity of supply and contribute to higher prices for vet - erinary care for pet owners. Most importantly, the FCA announced that it would closely monitor the development of these structures, sending a clear signal to market participants regarding “below-threshold” concentrations. Strengthening ex-post enforcement of merger commitments The FCA undertook significant initiatives regarding the ex-post monitoring of merger control remedies. Struc - tural and behavioural remedies, mainly at the initiative of the notifying parties and sometimes imposed by the FCA, are an important element of the authority’s merger control toolbox. Although the FCA imposed successful sanctions in the past for failure to comply with remedies (for example against Altice in 2022), it expressed the need to ensure better monitoring of such remedies. In March 2025, it launched a public consultation to improve the framework applicable to trustees ( manda- taires ) responsible for monitoring behavioural or struc - tural remedies, commitments or injunctions, proposed by undertakings or imposed on them in merger control cases. Following this consultation, the FCA announced that several practical reforms could be implemented with - out legislative change, including: • the possibility to appoint a trustee as soon as com - mitments are submitted; • providing reasoned explanations when refusing to approve a proposed trustee; • holding a kick-off meeting at the start of the moni - toring phase with the approved trustee; • issuing a formal discharge at the end of the man - date; and • creating a dedicated webpage presenting the trustees.
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