Regulators receive EU court backing in Vivendi's loss to Lagardere.

Regulators in Brussels have secured a significant victory, with the EU's second-highest court ruling on Wednesday that they possess the authority to request data regarding Vivendi's 2023 purchase of Lagardere.

The EU Commission's authority to demand documents was contested by Vivendi, which argued that compliance could compromise journalistic confidentiality and infringe on reporters' right to protect their sources.

The Luxembourg-based General Court has ruled that all grounds presented by the applicant lack merit, thus dismissing the appeal outright.

A spokesperson for Vivendi declined to provide an immediate response.

Vivendi faced regulatory scrutiny when it completed the Lagardere deal without first obtaining EU merger clearance.

A ruling from the EU court has bolstered the Commission's position in the Vivendi-Lagardere dispute, but a definitive decision on penalties remains pending, with Vivendi facing potential fines up to 10% of its global annual revenue if found in breach of EU merger regulations.

In recent years, the EU executive has imposed significant penalties on companies breaching merger rules consistently.

Vivendi's lawsuit against the Commission is Case T-1097/23.

A European Union court decision has given a boost to regulatory authorities, affirming their ability to investigate corporate dealings.

Vivendi(VIV.PA)Brussels have secured a significant victory, with the EU's second-highest court ruling on Wednesday that they possess the authority to request data regarding Vivendi's 2023 purchase of Lagardere.