Business case
Our client, a mobile operator, claimed to have suffered lost profits after being excluded from a competitive process to acquire a Mobile Virtual Network Enabler (MVNO) to the benefit of another operator that was sanctioned by the French Competition Authority for “gun jumping” practices.
The French Competition Authority sent a clear message to market participants: mergers must not be implemented prematurely.
We assessed our client’s lost profits resulting from this exclusion by reviewing and, where necessary, adjusting the key drivers of the business plan that underpinned the client’s valuation of the target at the time of the transaction.