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In April 2018, the European Commission imposed a fine of €124.5 million on French multinational telecommunications and mass media company Altice, for implementing its acquisition of PT Portugal before the Commission had approved the transaction and before the acquisition had even been notified to the Commission in some respects. In its judgment in Altice Europe v Commission, issued on September 22, 2021 (Case T-425/18), the European General Court (EGC), as the first instance EU court, dismissed Altice’s appeal against the Commission’s decision in its entirety, although it did reduce the original fine by €6.2 million, to €118.6 million, given that Altice had eventually notified the transaction.

The pandemic has been devastating for Ukraine, with underfunded health services struggling to contain COVID-19 contagion. Scenes of hospitals overwhelmed with patients and lacking staff, equipment, and medication will haunt us even as cases drop and vaccinations rise. It has been a traumatic time for our team at the Kyiv Dentons office. We have been working hard to support and guide each other towards the glimmer of light at the end of this long and, at times scary, tunnel.

Konstantin Kroll, Partner and Head of Russian Corporate and M&A Practice at Dentons in Moscow, reports that the Russian economy has experienced a rise in M&A transactions and that the government has taken steps to curb offshoring, regulate convertible loans, and increase the number of international arbitration tribunals in the country.

According to its recently published annual report, the Office for the Protection of Competition of the Czech Republic (the "Office") plans a thorough investigation of the pharmaceutical sector, in terms of compliance with both competition and public procurement rules.

“In the past year or so, we have been very focused on transactional work in the renewables sector,” says Dentons Warsaw Partner Agnieszka Kulinska. “In addition to that, together with our banking and finance colleagues, my department has also handled a number of financing deals in the sector.”

The legal market in Europe is ever-changing, but now, as we approach the turn of the year, there is no doubt we are at a pivotal moment. One could say that the tide has risen and the world of legal services as we know it is gone. While it would be easy to blame everything on the pandemic, the COVID-19 crisis has merely accelerated certain processes that have been swelling up and ready to burst for quite some time. The trends we have been observing have just gained momentum. It is essential that law firms accept the challenges and prudently navigate the dangers.

Over the course of our seven years, CEE Legal Matters has interviewed most of the British lawyers working on the ground in Central and Eastern Europe as part of our recurring “Expat on the Market” feature. We reached out to them recently and asked them to bring us up to speed on what they’re doing and/or share their thoughts on the ramifications of Brexit or the ongoing COVID-19 crisis.

The Slovak Competition Act (No. 136/2001 Coll. as amended) has been the cornerstone of Slovak competition law for almost two decades and has seen its share of major amendments. The Slovak Competition Authority has now decided to table a new Competition Act and has submitted a draft for preliminary consultation. The draft transposes the ECN+ Directive (Directive (EU) 2019/1) and addresses a number of competition law issues that have been debated for years in Slovakia.

Before being elected President of Ukraine last May, Volodymyr Zelensky had virtually no experience in public office. Despite his inexperience – or perhaps because of it – over 73% of the electorate concluded that the comedian and entertainer was the right man to replace Petro Poroshenko, the previous President, and now Zelensky finds himself, at 41, leading an entire nation.

The title of this editorial is a famous song by the Spencer Davis Group – though it makes me wonder if they were CEE in-house lawyers singing to their CEOs.

On December 12, 2019, CEE Legal Matters reported that Dentons, Magnusson, and TGS Baltic had advised the Avia Solutions group – a Lithuanian aviation services group – on a five-year bond issuance with a total value of USD 300 million, an annual interest rate of 7.875%, and a maturity date of 2024. The bonds were issued in US dollars and distributed in the US and European markets. White & Case and Sorainen helped JP Morgan and BNP Paribas organize the issuance.

Attendees to the 2019 CEELM Winter Party were cornered, over the course of the evening, and asked, without warning or an opportunity to prepare, what achievement over the past 12 months they were proudest of.

Dentons at a Glance

Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you.

Dentons is one of the leading law firms in CEE and Central Asia with offices in Warsaw, Prague, Budapest, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.

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