On September 16, 2026, European Commission President von der Leyen opened her annual State of the Union address with the warning that “[a] fight for industrial capacities is shaping global competition”. Her speech indicated how the European Commission intends to
Covington Competition
The Covington View
Covington Competition, published by Covington & Burling LLP, focuses on competition law and regulatory developments within the European Union and globally. The blog covers topics such as foreign direct investment (FDI) screening regimes, antitrust enforcement including no-poach agreements and minority shareholdings, state aid frameworks supporting industrial and clean energy initiatives, and sector-specific regulatory issues like defense and technology. It analyzes trends in merger control, investment screening, and competition policy enforcement, providing insights into legal and policy intersections affecting corporate transactions, compliance, and market competition.
Navigating European Regulatory Regimes for Defense Sector Investments and Deals
Executive Summary
- Geopolitical developments are driving significant investment into the defense sectors in Europe. Acquisitions and investments in these sectors are likely to require multiple regulatory approvals across merger control, foreign investment / national security control, and foreign subsidies.
- Merger
…
ROGON and RRC Sports: The EU’s Top Court vindicates a pragmatic application of the antitrust sporting exemption to players’ agent regulations
Introduction
In the space of just one week, the EU’s top court, the European Court of Justice (“ECJ”), delivered two important judgments that clarify the scope of sport rule-making activities that can benefit from an antitrust exemption: the ROGON judgment…
From Diarra to FIFA’s New Player Transfer System: How EU Law is Reshaping Football’s Transfer Rules and Governance
By Toni Pitesa
For more than twenty years, FIFA’s Regulations on the Status and Transfer of Players (“RSTP”) have sought to balance the stability of football teams with player mobility. That balance was fundamentally challenged by the European Court of Justice (“ECJ” or…
In or out? Navigating Legal Privilege in EU Competition Investigations post-Broadcom
I. Introduction
On 3 August 2026, the President of the EU General Court issued an order addressing the scope of legal privilege under EU law. The order dismissed Broadcom’s application to suspend a decision by the European Commission requiring the production…
First Prohibition Under Belgium’s FDI Regime: A Milestone, Not a Revolution
Introduction
On August 5, 2026, NHV Group announced that its proposed acquisition by GD Helicopter Finance (“GDHF”), ultimately controlled by China-based GDAT Group, would not proceed after Belgian authorities blocked the transaction under Belgium’s foreign direct investment screening regime, following…
The Middle East Crisis Temporary State Aid Framework (METSAF)
On 29 April 2026, the European Commission (“Commission”) adopted its Communication establishing the “Middle East Crisis Temporary State Aid Framework” (“METSAF”). The Communication introduces a new State aid framework to mitigate the consequences of the energy price spikes…
UAE Antitrust Regime Marks an Important Step with the Introduction of Market Definition Guidelines
What’s changing, and why is it important?
In July 2026, the Ministry of Economy & Tourism of the United Arab Emirates (the “Ministry” and “UAE”) published its Guidelines on Relevant Market Definition (the “Guidelines”), providing a detailed look into the…
Tondela (Case C‑133/24): No-Poach Agreements in Sport: Context Always Matters
On 30 April 2026, the Court of Justice of the EU (the “Court”) delivered its judgment in Case C‑133/24 CD Tondela and Others (“Tondela”). The case arose from a preliminary ruling request submitted by a Portuguese court concerning…
The UAE’s New Merger Control Framework: What the 2026 Executive Regulations Mean for Dealmakers
On 30 April, the UAE adopted Cabinet Decision No. (59) of 2026 (“the 2026 Executive Regulations”), setting out the executive regulations for Federal Decree-Law No. (36) of 2023 on the Regulation of Competition. The 2026 Executive Regulations replace the previous…