CMA's 'Wide Most Favoured Nation' Decision overturned in the Compare the Market Case
18 August 2022
The UK's Competition Appeal Tribunal (CAT) has overturned a decision of the Competition and Markets Authority (CMA) which found that "most favoured nation clauses" used by the price comparison website Compare the Market infringed competition law. In so doing, the CAT made important observations regarding the correct approach to market definition – both generally and specifically as regards 'two-sided' markets – and the correct approach to bringing a 'by effects' case. The CAT also made several criticisms of the manner in which the CMA approached and relied on evidence, both in the decision and on appeal. The judgment will likely have implications beyond the case at hand.