A PYMNTS Company

Brazil: Cisco and Technicolor accused of ‘gun jumping’

By  |  January 26, 2016

Brazilian competition regulator CADE has issued a ruling, declaring Cisco Systems Inc. and Technicolor SA liable for a combined fine totalling $30 million Reals ($7.3 million US), as penalty for failing to notify the regulator before completing a merger transaction, also known as ‘gun jumping’.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The case involves the sale of a Cisco Systems subsidiary to France’s Technicolor SA. The sale was under review by competition authorities from Brazil, as well as Canada, the United States, Colombia, The Netherlands and Ukraine. Records studied by CADE indicate the sale was completed on November 19th 2015, several days before CADE’s final ruling.

    “Apart from this, CADE was aware of the situation thanks to other sources, with official notification being received only three days before the operation was announced to the press” said the Commissioner overseeing the case, Mr. Paulo Burnier.

    Full content: CADE

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.