E-Commerce Competition Enforcement Guide

European Union – E-commerce: Most Favoured Nation Clauses

Slaughter and May

What are MFNs?

This chapter considers the use of parity provisions, otherwise known as most favoured nation (MFN) clauses, in agreements between suppliers and price comparison tools, and between retailers and online marketplaces.

Two main types of MFN clauses have been considered by competition authorities across Europe:

  • ‘wide’ MFNs: typically require suppliers and retailers to publish on a price comparison tool or online marketplace the same or better price and conditions as those published on any other sales channel; and
  • ‘narrow’ MFNs: typically require suppliers and retailers to publish on a price comparison tool or online marketplace the same or better price and conditions as those published on its own (direct) website.

MFN clauses can also be distinguished according to the factor regulated – price being the most common. Non-price MFN clauses may require the supplier and retailer to offer the same product range, availability, conditions and customer services.

Key European MFN cases to date

The use of MFNs by price comparison tools and online marketplaces has been the target of a number of antitrust enforcement cases and market studies in Europe:

  • Online hotel bookings: Starting in 2010, several European national competition authorities (NCAs) have investigated MFN clauses in agreements between online travel agents (OTAs) and hotels, and have taken different approaches. The French, Italian and Swedish NCAs accepted commitments from the OTA Booking.com to replace wide with narrow MFNs in April 2015.[2] The narrow MFN commitments were unilaterally extended by Booking.com throughout the EU – an approach that Expedia followed shortly thereafter. The German NCA, however, issued prohibition decisions both in respect of the use of the wide MFN by the hotel booking OTA, HRS, in December 2013 and in respect of Booking.com’s narrow MFN in December 2015.[3] Through the European Competition Network (ECN), a working group comprising 10 NCAs and the European Commission was established to conduct a year-long monitoring exercise with a view to assessing and comparing the impact of these measures. The results were published in April 2017, further to which the ECN decided to keep the sector under review.[4]
  • Insurance price comparison websites and digital comparison tools (UK): The UK NCA carried out a market investigation into the private motor insurance (PMI) market in 2012–14.[5] Aspects covered included the use of wide MFNs in agreements between PMI providers and price comparison websites (PCWs). The investigation led to the prohibition of wide MFNs in relation to motor insurance (with PCWs relying instead on narrow MFNs). More recently, the UK NCA published further analysis on MFNs as part of its digital comparison tools (DCT) market study.[6]
  • Amazon Marketplace (UK and Germany): In 2012 and 2013, the UK and German NCAs both launched investigations into the use of wide MFNs on Amazon Marketplace. As a result of these proceedings, Amazon announced in August 2013 that it would no longer be enforcing Marketplace parity provisions across the EU.[7]
  • Apple E-books (EU): The Commission investigated Apple and a number of international e-book publishers in relation to retail price MFNs and other pricing clauses introduced by Apple in its iBookstore contracts after switching from a wholesale to an agency model. The Commission was concerned that these arrangements formed part of a strategy aimed at raising e-book prices. The case was settled by way of commitments, including a commitment by Apple not to enter into or enforce any retail price MFN clauses in agreements with e-book retailers or publishers for a period of five years.[8]
  • Amazon E-books MFN (EU): The Commission initiated antitrust proceedings in June 2015 examining MFN clauses in agreements between Amazon and e-book publishers. The Commission considered that these clauses, which covered price as well as a number of other aspects such as distribution model, innovative features and promotions, could impede the ability of other e-book platforms to compete with Amazon. The case was settled by way of commitments in May 2017, under which Amazon offered not to enforce or include such clauses in respect of any e-book distributed in the EEA for a period of five years.[9]
  • E-commerce Report (EU): In 2017, the Commission briefly assessed MFNs as part of its wide-reaching sector inquiry into e-commerce.[10]

What are the competition issues raised by MFNs?

MFN clauses have largely been analysed as potentially anticompetitive agreements under Article 101 of the Treaty on the Functioning of the European Union (TFEU) and national equivalents (see below for an overview of the Article 102 TFEU analysis to date).

Wide MFNs: theories of harm

Two theories of harm have been advanced by European competition authorities in respect of wide MFNs:

  • wide MFNs soften competition between platforms; and
  • wide MFNs impede innovation, entry and expansion by new platforms.

Softening of competition between platforms

Wide MFNs have been alleged to reduce the incentive for platforms to compete on the basis of commission levels by creating ‘price floors’.[11] According to this theory, a platform can increase the commission charged to a supplier who is subject to a wide MFN without the constraint that this supplier could retaliate by setting a higher price and less advantageous conditions on the platform compared to other channels. Instead, short of delisting themselves, suppliers are faced with two options: pass on the commission increase by raising prices across all their distribution channels; or maintain current prices and absorb the loss.

In addition, wide MFNs typically spread across a market: competing platforms will have a strong incentive to implement similarly wide MFNs to protect themselves against the risk of rates on their websites exceeding those listed elsewhere. This can result in low levels of price differentiation (i.e. suppliers displaying the same price across all platforms).

Barrier to entry and innovation

Wide MFNs have also been alleged to constitute a barrier to entry, on the basis that online platforms are prevented from entering the market or expanding through a strategy based on offering low commission rates in exchange for better prices and conditions from suppliers (who are constrained by the wide MFNs agreed with other platforms).[12] Platforms can still differentiate themselves based on factors such as quality and brand image; however, these typically require significant upfront investments. As above, these effects are said to be strengthened when MFN clauses spread and become industry standard.

Narrow MFNs: theories of harm

While narrow MFNs have largely been treated positively by NCAs on the basis of associated efficiencies, the following potential concerns have been explored:

  • the potential for narrow MFNs to replicate the effects of the wide MFN; and
  • restrictions on competition from the direct channel.

Potential to replicate the effects of the wide MFN

Competition authorities have noted that narrow MFNs could have anticompetitive effects in situations where suppliers are not willing to undercut their direct channel (possibly to avoid the cannibalisation of their direct sales).[13] Faced with an increase in commission, such suppliers might opt to raise prices not only on the platform with a narrow MFN and their own website, but also across other channels – thereby replicating the ‘price floor’ effects of a wide MFN. In this respect, it should be noted that recent studies conducted by European NCAs have found that the switch from a wide to a narrow MFN had a positive impact on competition (see below).

Restricting competition from the direct channel

Narrow MFNs also have the potential to produce anticompetitive effects by limiting the competitiveness of suppliers’ direct sale channels.[14] However, the extent to which direct channels do in fact have the potential to exercise a constraint on platforms varies greatly across markets, as it will depend on factors such as the extent to which consumers shop around between platforms and the visibility of direct channels.

Justifying MFNs

Can smaller platforms and suppliers rely on VABER?

The Commission’s Vertical Agreements Block Exemption Regulation (VABER)[15] provides a safe harbour for agreements that would otherwise fall under the Article 101(1) prohibition, provided certain conditions are satisfied – including a 30 per cent market share threshold on either the upstream or downstream market.

The Commission takes the view in the Staff Working Document supporting its E-commerce Report that parity clauses in vertical agreements are covered by VABER provided neither of the parties’ market share exceeds the 30 per cent threshold.[16] However, NCAs have in the past rejected arguments that wide MFNs could be exempt under VABER. In particular, the French NCA noted in its online hotel bookings decision that the presumption of legality conferred by VABER can be withdrawn when a vertical agreement comes within the scope of Article 101(1) and does not meet the countervailing efficiencies under Article 101(3).[17]

In a ruling rejecting the appeal by hotel booking OTA, HRS, against the German NCA’s 2013 prohibition decision, the Higher Regional Court of Düsseldorf was also unconvinced that wide MFNs could benefit from VABER, on the basis that these clauses do not relate to conditions of sale or resale. The court held that HRS’ wide MFN ‘governs neither the conditions for the procurement of the agency services nor those for the resale of this service by the hotel companies’, and may not constitute a ‘vertical agreement’ within the meaning of Article 1(1)(a) VABER.[18] The question was ultimately left open as the court also found that, in any event, HRS would not be able to benefit from the exemption given that its market share was in excess of the 30 per cent threshold.[19]

Moreover, the application of VABER will be dependent on a finding that the supplier and platform are not ‘competing undertakings’[20] – an analysis that is not always straightforward in online markets. The UK NCA dismissed the possibility of applying VABER during its PMI market investigation on the basis that PMI providers and PCWs were competing undertakings that both provide PMI quotes on their websites and compete for customers through advertising.[21]

Efficiencies analysis

Article 101(3) TFEU provides for an individual exemption for otherwise anticompetitive agreements on the basis of associated efficiencies. Four specific conditions must be met for an agreement or concerted practice to be exempted from Article 101(1) in this way. In particular, it must: (1) ‘contribute to improving the production or distribution of goods or to promoting technical or economic progress’; (2) allow consumers ‘a fair share of the resulting benefit’; (3) not impose restrictions ‘which are not indispensable to the attainment of these objectives’; and (4) not ‘eliminate competition in respect of a substantial part of the products in question’.

The Commission’s Guidelines on the Application of Article 101(3) provide that an assessment of efficiencies involves a balancing act: taking into account the extent of relevant restrictions of competition and balancing them against the efficiencies that flow from these restrictions, to determine if the efficiencies outweigh the harm caused by the arrangement.[22] This provides a framework within which to apply the specific conditions of Article 101(3).

In the context of wide and narrow MFNs, given narrow MFNs are contractually less restrictive than wide MFNs, the Article 101(3) threshold should consequently generally be lower.

Assessment of narrow MFN clauses under 101(3)

There has been divergence within Europe as to how NCAs have assessed the efficiency benefits of narrow MFNs.

The UK NCA undertook a detailed analysis of narrow MFNs in its PMI market investigation, and found that such clauses did meet the requirements of Article 101(3). In particular, the UK NCA found that:

  • Narrow MFNs enhanced competition between PMI providers, through increased transparency and reduced search costs for consumers.[23] Without narrow MFNs, PCWs’ existence might be threatened with a consequent reduction in inter-brand competition.[24] In particular, the credibility of PCWs could be undermined, and providers could free-ride on the investments of PCWs, if providers were able to undercut the PCWs on which they advertise.[25]
  • Consumers would benefit from enhanced inter-brand competition (provided the PCW market was also competitive).[26]
  • The narrow MFN was indispensable to achieving the efficiency gains. While there may be alternative mechanisms by which to prevent free-riding (e.g. anonymous quotes or an alternative charging model),[27] the UK NCA stated that it could not:
identify an alternative mechanism for PCWs to protect their credibility as a comparison tool. Rather it appeared to us that the ability to offer prices which were the same as those available online directly was part of the essential, customer-attracting proposition of a PCW. Overall, we found that even if narrow MFNs had some anti-competitive effects, they might be necessary for PCWs to survive.[28]
  • Narrow MFNs would not eliminate competition – in fact, the UK NCA found that ‘if there are any anticompetitive effects from narrow MFNs in the PMI market, these effects are unlikely to be significant’ on the basis that providers would offer lower prices on low commission PCWs despite the narrow MFN, and the websites of PMI providers did not appear to be a significant restraint on PCWs.[29]

As set out above, in the online hotel bookings investigations, several NCAs found that narrow MFNs did not restrict competition. These NCAs did, nonetheless, recognise the efficiency benefits associated with narrow MFNs and their decisions leave the impression that the decision to accept Booking.com’s commitments was driven by efficiency considerations. For example, the Swedish NCA stated that OTAs can attract customers that the hotels themselves have difficulty reaching, and ‘offer consumers a search and comparison function that individual hotels are unable to offer’.[30] The Swedish NCA found this contributed to ‘price transparency on the market and to increased competition between hotels’[31] and that, without the narrow MFN, these efficiency benefits would be put at risk through free-riding.[32] The French and Italian NCAs also recognised that hotel booking OTAs give rise to important efficiencies, which would be protected through the narrow MFN commitments.[33]

The German NCA, by contrast, has so far been unconvinced by the benefits of the narrow MFN – finding instead that the narrow MFN restricts competition and that harm is not outweighed by efficiency gains. In particular, the German NCA found in its decision against Booking.com that none of the conditions of Article 101(3) were met, noting that:

  • The general efficiency gains that hotel booking OTAs bring do not result from the narrow MFN.[34] The German NCA was unconvinced by evidence put forward by Booking.com that the removal of the narrow MFN would result in free-riding or increased search costs, and considered that Booking.com would continue to operate successfully without the narrow MFN.[35]
  • As a consequence, consumers did not share in any ‘resulting benefit’.[36]
  • Even if efficiency benefits were attributed to the narrow MFN, they were not indispensable. The German NCA’s view was that in the absence of the narrow MFN, Booking.com could take steps to secure its position in the marketplace, for example, through increased innovation, reducing its commission rate or, if necessary, by changing its business model (e.g. by implementing a usage fee for consumers or a pay-per-click model for hotels).[37]
  • Narrow MFNs ‘palpably restrict price competition and … quality competition’ – but whether or not the fourth condition of Article 101(3) (the agreement does not eliminate competition in respect of a substantial part of the products in question) was met was left open on the basis that the German NCA considered it irrelevant given the first three conditions were not fulfilled.[38]

Wide MFNs: any incremental benefits over and above narrow MFNs?

The UK NCA considered whether the wide MFN had any incremental benefits over the narrow MFN in its PMI investigation. In particular, it considered efficiency arguments that: consumers would not trust PCWs unless they had the best prices across all providers; a wide MFN provides a ‘one stop shop’ further reducing search costs for consumers; and wide MFNs prevent other distribution channels free-riding on the advertising investments of PCWs.[39]

The UK NCA found that these claimed efficiency benefits were not supported by evidence. In particular, it found that many consumers searched across multiple PCWs, ‘suggesting that they did not expect the prices returned through each PCW to be the same’[40] and that PCWs did not currently operate as a ‘one stop shop’. With respect to free-riding, the UK NCA drew a distinction between the narrow and wide MFN stating that:

as PCWs do not provide a link to other PCWs when they produce their search results, there was not the same possibility for another PCW to free-ride on the first PCW’s investment as other PCWs would still need to invest in advertising to attract customers. Therefore, we did not see that a wide MFN added any protection from free-riding to that provided by a narrow MFN.[41]

Ultimately, the UK NCA found that even if there were some incremental benefits of wide MFNs ‘such incremental benefits would be unlikely to outweigh the anticompetitive effects of wide MFNs’.[42]

The UK NCA reaffirmed its assessment that wide MFNs were not necessary to deliver any potential benefits to consumers over and above those of narrow MFNs in its DCT market study.[43] Multiple other authorities have also found that the wide MFN does not meet the requirements of Article 101(3).[44]

Analysis under the ancillary restraints doctrine

Another potential approach to justifying MFNs is under the ancillary restraints doctrine. This approach is yet to be properly tested by European competition authorities. However, the German NCA briefly stated in its decision against the wide MFN employed by hotel booking OTA HRS that ‘the MFN clauses are not ancillary agreements which are required to safeguard the main purpose of a contract which does not violate competition law. The clauses are therefore not exempt from the scope of the ban on anti-competitive agreements.’[45]

There are potentially stronger arguments that the narrow MFN could be justified as an ancillary restraint. An ancillary restraint is a clause that is objectively necessary and proportionate for the implementation of a competitively neutral transaction.[46] Therefore, the same arguments that have been used by PCWs to justify the narrow MFN under an Article 101(3) analysis – namely, that narrow MFNs are necessary to prevent free-riding and ensure credible search and comparison – could also be argued to be a necessary and proportionate restriction for the provision of services by PCWs.

Are there any other considerations for dominant companies?

While MFNs have largely been considered under Article 101, the use of wide MFNs in standard contracts with suppliers by dominant companies could also be found to constitute abuse under Article 102 TFEU, because of concerns around associated exclusionary effects.

In particular, the Commission analysed MFNs under Article 102 in the Amazon e-books MFN investigation.[47] The Commission took the preliminary view that Amazon may have abused its dominant position through a number of MFN clauses requiring e-book publishers and suppliers to inform Amazon about more favourable or alternative terms given to competing platforms (relating to price, promotions, and e-book features) and to offer Amazon similar (or better) terms. The Commission considered that such clauses could strengthen Amazon’s position by reducing the ability and incentive of e-book suppliers and competing platforms to develop new business models.

The relevance of Article 102 was also raised in the online hotel bookings cases. In particular, the French NCA noted that the imposition of wide MFNs by one or multiple platforms could be deemed to constitute individual or collective abuse of a dominant position.[48]

What type of economic analysis has been conducted by NCAs on the impact of the switch from wide to narrow MFNs?

In the online hotel bookings sector, a European Competition Network Working Group conducted a year-long monitoring exercise with a view to assessing and comparing the impact of the switch from wide to narrow MFNs across Europe on the one hand, and the prohibition of MFNs in Germany and France on the other. The Working Group carried out a difference-in-differences analysis of room price data obtained from metasearch websites, and found that ‘the switch from wide to narrow parity clauses by Booking.com and Expedia led to an increase in room price differentiation between OTAs by hotels in eight of the 10 participating Member States’.[49]

The UK NCA also reviewed the impact of the switch from a wide to a narrow MFNs by PCWs in agreements with PMI providers as part of its DCT market study. The econometric analysis carried out showed that ‘commissions have been lower than they would have been since the removal of the wide MFNs … this suggest that the impact of narrow MFNs has not (or not fully) replicated that of wide MFNs.’[50]

Practical considerations when drafting narrow MFN clauses

The UK NCA recently provided guidance on the scope of narrow MFN clauses as part of its DCT market study. In the NCA’s view, narrow MFNs should not go beyond the scope of what is strictly necessary to achieve related efficiencies. In particular, the UK NCA noted that narrow MFNs should not apply to existing customers (those customers with whom the supplier already has a contract or who participate in a supplier’s loyalty programme) on the basis that free-riding efficiencies are less likely to apply to such customers.[51]

Are any new developments expected over the coming months?

MFN clauses are likely to remain a hot topic in Europe:

  • NCAs are continuing to take enforcement action against wide MFN clauses. In September 2017, the UK NCA launched an investigation into the use of wide MFN clauses by a price comparison website in relation to home insurance products.[52] Separately, the European Competition Network has indicated that it will continue to monitor the online hotel sector and ‘re-assess the competitive situation in due course’.[53]
  • In the context of private litigation brought by a Swedish tourism association against Booking.com, the Swedish Patent and Market Court held in July 2018 that narrow MFN clauses were restrictive of competition and ordered that these be removed from Booking.com’s agreements with hotels in Sweden - thereby going against the findings of the Swedish Competition Authority in its 2015 commitments decision.[54] This judgment is currently under appeal.
  • The German NCA’s prohibition of the narrow MFN remains the subject of appeal to the Higher Regional Court of Düsseldorf.[55]
  • Legislation has been introduced in France,[56] Austria,[57] Italy[58] and Belgium[59] prohibiting MFN clauses (including narrow MFNs) in contracts between accommodations and hotel booking OTAs. A proposal for similar legislation has been put forward in Switzerland.
  • If adopted, the Commission’s proposal for a regulation on platform-to-business relationships, unveiled in April 2018, will require online platform intermediaries to include an explanation of the ‘main economic, commercial or legal considerations’ for using MFNs (if any) in their terms and conditions for business users (such as suppliers), and make this explanation publicly available.[60]

Notes

[1] Philippe Chappatte and Kerry O’Connell are partners, and Sarah de Morant is an associate, at Slaughter and May.

[2] French Competition Authority (Autorité de la concurrence), Decision 15-D-06 dated 21 April 2015; Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato), Decision dated 21 April 2015; and Swedish Competition Authority (Konkurrensverket) Decision 596/2013 dated 15 April 2015.

[3] German Competition Authority (Bundeskartellamt), Decision B 9 – 66/10 dated 20 December 2013 and Decision B 9 – 121/13 dated 22 December 2015.

[4] ECN, Report on the monitoring exercise carried out in the online hotel booking sector dated 6 April 2017.

[5] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013.

[6] UK Competition and Markets Authority, Digital comparison tools market study, Final Report dated 26 September 2017.

[7] German Competition Authority (Bundeskartellamt), Decision B 6 – 46/12 dated 26 November 2013 and Decision B 9 – 121/13 dated 22 December 2015; UK Competition Authority (Office of Fair Trading), case CE/9692/12 (closed November 2013).

[8] AT.39847 E-books, Decision dated 12 December 2012.

[9] AT.40153 E-book MFNs and related matters (Amazon), Decision dated 4 May 2017.

[10] COM(2017) 229, Final Report on the E-commerce Sector Inquiry dated 10 May 2017.

[11] See, for example, UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.40-43.

[12] See, for example, UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.35-39.

[13] UK Competition and Markets Authority, Digital comparison tools market study, Paper E: Competitive landscape and effectiveness of competition dated 26 September 2017, para 3.34-3.37.

[14] See, for example, UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.55.

[15] Commission Regulation 330/2010 of 20 April 2010 on the application of Article 101(3) of the Treaty on the Functioning of the European Union to categories of vertical agreements and concerted practices (OJ 2010 L102/1, 23.04.2010).

[16] COM(2017) 229, Commission Staff Working Document accompanying the final report on the E-commerce sector inquiry dated 10 May 2017, para 621.

[17] French Competition Authority, Decision 15-D-06 dated 21 April 2015, para 137; and Commission Guidelines on Vertical Restraints (OJ C 130/1,19.05.2010), para 74-76.

[18] Higher Regional Court of Düsseldorf (Oberlandesgericht Düsseldorf) Administrative proceedings VI-Kart 1/14 [V], Decision dated 9 January 2014, para 164-165.

[19] Higher Regional Court of Düsseldorf (Oberlandesgericht Düsseldorf) Administrative proceedings VI-Kart 1/14 [V], Decision dated 9 January 2014, para 168.

[20] VABER, Articles 1(1)(c) and 2(4).

[21] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, Annex 12.1 para 38.

[22] Commission Guidelines on the Application of Article 81(3) of the Treaty (101(3)) (OJ C101/97, 27.4.2004), para 11-12.

[23] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.82-83.

[24] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.82.

[25] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.89 - 8.107.

[26] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.7.

[27] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.100.

[28] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.102.

[29] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.118.

[30] Swedish Competition Authority (Konkurrensverket) Decision 596/2013 dated 15 April 2015 (English version), para 16.

[31] Swedish Competition Authority (Konkurrensverket) Decision 596/2013 dated 15 April 2015 (English version), para 27.

[32] Swedish Competition Authority (Konkurrensverket) Decision 596/2013 dated 15 April 2015 (English version), para 30: The Competition Authority’s assessment, which is supported by analysis… is in view of the above that the vertical price parity substantially reduces the risk that hotels free-ride on investments made by Booking.com. This in turn allows Booking.com to receive remuneration for its search and compare services so that the services continue to be offered on the market for the benefit of consumers’.

[33] See for example, French Competition Authority (Autorité de la concurrence), Decision 15-D-06 dated 21 April 2015 (English translation), para 289: ‘The commitments allow restoring a balance in the sector, and ensure efficient competition likely to lead to a decrease in the amount of commissions of OTAs while respecting the positive contribution that the latter bring to the sector in terms of economic efficiency’. Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato), Decision dated 21 April 2015 (English translation), para 67: …the said commitments are able to remove the anti-competitive concerns that had been identified in the notice of commencement of the investigation. At the same time, we believe that they are able to ensure that consumers have the opportunity to keep using the comparison, research and booking services that it offers for free’.

[34] German Competition Authority (Bundeskartellamt), Decision B 9 – 121/13 dated 22 December 2015, para 261-267.

[35] German Competition Authority (Bundeskartellamt), Decision B 9 – 121/13 dated 22 December 2015, para 268-281.

[36] German Competition Authority (Bundeskartellamt), Decision B 9 – 121/13 dated 22 December 2015 (English translation), para 283–285.

[37] German Competition Authority (Bundeskartellamt), Decision B 9 – 121/13 dated 22 December 2015, para 286–298.

[38] German Competition Authority (Bundeskartellamt), Decision B 9 – 121/13 dated 22 December 2015 (English translation), para 300-302.

[39] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, Annex 12(1)-7, para 30.

[40] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.104.

[41] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.106.

[42] UK Competition and Markets Authority, Private motor insurance market investigation, Final Report dated 24 September 2013, para 8.116.

[43] UK Competition and Markets Authority, Digital comparison tools market study, Paper E: Competitive landscape and effectiveness of competition dated 26 September 2017, para 3.16.

[44] See, for example, French Competition Authority (Autorité de la concurrence), Decision 15-D-06 dated 21 April 2015 (English translation), para 134-141.

[45] German Competition Authority (Bundeskartellamt), Decision B 6 – 46/12 dated 26 November 2013, para 150.

[46] See, for instance, ECJ, Remia, Decision dated 11 July 1985 (C-42/84), para 20; ECJ, Oude Luttikhuis, Decision dated 12 December 1995 (C-399/93) para 14; and ECJ, MasterCard, Decision dated 11 September 2014 (C-382/12 P), para 89.

[47] AT.40153 E-book MFNs and related matters (Amazon), Decision dated 4 May 2017.

[48] French Competition Authority (Autorité de la concurrence), Decision 15-D-06 dated 21 April 2015, para 142-146.

[49] ECN, Report on the monitoring exercise carried out in the online hotel booking sector dated 6 April 2017, para 11.

[50] UK Competition and Markets Authority, Digital comparison tools market study, Paper E: Competitive landscape and effectiveness of competition dated 26 September 2017, para 3.48.

[51] UK Competition and Markets Authority, Digital comparison tools market study, Paper E: Competitive landscape and effectiveness of competition dated 26 September 2017, para 3.88.

[52] UK Competition and Markets Authority, Price comparison website: use of most favoured nation clauses (opened 26 September 2017).

[53] ECN, Outcome of the ECN DGs on 17 February 2017.

[54] Swedish Patent and Market court (Patent- och marknadsdomstolen Stockholms Tingsrätt), case PMT 13013-16 Visita v Booking.com B.V. and Bookingdotcom Sverige AB.

[55] Higher Regional Court of Düsseldorf (Oberlandesgericht Düsseldorf), Administrative proceedings VI-Kart 2/16 [V].

[56] Law No. 2015-990 for Growth, Activity and Equal Economic Chances, adopted on 10 July 2015.

[57] Draft Federal Act amending the Federal Act Against Unfair Competition 1984 and the Federal Act on Price Marking, adopted on 17 November 2016.

[58] Annual Bill for Market and Competition, adopted on 2 August 2017.

[59] Act on pricing freedom for tourist accommodation operators in contracts concluded with online reservation platform operators, adopted on 19 July 2018.

[60] Commission proposal for a regulation of the European Parliament and of the Council on promoting fairness and transparency for business users of online intermediation services (COM(2018) 238) dated 26 April 2018, Article 8.

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