Which Thresholds?

As from 1 September 2026, new merger control thresholds will apply (Law No. 2026-403, 26 May 2026):

• if EU thresholds are not met, transactions must be notified to the French Competition Authority where the parties (acquirer(s), other controlling shareholders and target) have a combined worldwide consolidated turnover exceeding €250 million (excluding taxes), and at least two of those parties each generate consolidated turnover in France exceeding €80 million (excluding taxes);
• the specific thresholds in the retail sector are increased: the parties’ combined worldwide consolidated turnover must exceed €100 million (excluding taxes), and at least two of those parties each generate consolidated turnover in retail exceeding €20 million (excluding taxes).

The thresholds in the overseas territories remain unchanged:

• Outside retail trade: the aggregate worldwide turnover of the parties must exceed €75 million (excluding taxes), and at least two of the parties each generate turnover in the French overseas territories of more than €15 million (excluding taxes);
• For retail trade: the aggregate worldwide turnover of the parties exceeds €75 million (excluding taxes), and at least two of the parties each generate retail turnover in the French overseas territories of more than €5 million (excluding taxes.

Managing the New Thresholds Depending on the Transaction Timeline

The new thresholds apply only to transactions filed as from 1 September 2026, i.e. those whose closing occurs after this date (see French competition authority’s FAQ).

Any failure to notify a transaction completed prior to 1 September 2026 may expose the parties to gun-jumping penalties where the former notification thresholds were triggered.

Where a transaction has already been pre-notified or notified before that date under the former thresholds, the review process will continue until the Authority issues its decision. However, if the parties do not meet the new thresholds, the pre-notification or notification may still be withdrawn, provided that the transaction has not been implemented prematurely before 1 September, even where the Authority had authorised its implementation by granting a derogation from the standstill obligation.

Published on 30.08.2026.