I believe that in Europe, we have a collective leadership.

Reference to the territory and total disregard for the nationality of the companies is of course the best guarantee that competition assessment remain just that and doesn't get affected by trade or other considerations.

This is certainly not the first case in which a merger approved in one place hasn't gone through in the other. There was a case last year where the merger between two EU companies was approved here and blocked in the U.S.

Like other antitrust agencies we make our assessment of a merger or antitrust case based on its impact on our jurisdiction, and not on the nationality of the companies. This is exactly what the U.S. antitrust agencies, the Justice Department and the FTC, do.