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Jacqueline Vallat

Partner

Portrait ofJacqueline Vallat

Jacqueline Vallat

Partner

Contact
CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
London
EC4N 6AF
United Kingdom
Languages English, French

Jackie Vallat is a partner in the Antitrust, Competition and Trade Team in London. She advises on a range of antitrust, merger control and foreign investment control issues, including their implications and strategy in international transactions, as well as antitrust compliance and risk management. Jackie focuses on financial services, energy and TMC, and has advised extensively on antitrust and merger/foreign investment control issues in those sectors. Jackie also has particular expertise advising on regulatory issues, especially UK airport regulation and the EU and UK regulatory framework for electronic communications. Jackie frequently advises TMC clients on compliance with UK electronic communications regulation.

Prior to joining CMS, Jackie was a stagiaire at the European Court of Justice and the European Commission, where she worked on competition and IP issues associated with the ‘Open Innovation’ model resulting in a report published by the European Commission.

Jackie is admitted as a solicitor in England and Wales and is on the EU List registered and regulated by the Dutch Brussels Bar.

Jackie was recognised as one of the top “40 under 40” foreign investment lawyers globally in the Global Competition Review’s inaugural survey of next generation leading foreign investment lawyers.

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Relevant experience

  • Legal & General Capital (Legal & General) on its third investment in ground source heat pump company Kensa, together with Octopus (the biggest investment ever made in ground source tech in Britain). We advised on the multi-jurisdictional merger control and FDI analysis and resulted in unconditional Phase 1 clearance.
  • A car manufacturer on the ongoing parallel European Commission and CMA investigations into end-of-life vehicles.
  • InstaDeep, a leading global technology company in the field of artificial intelligence and machine learning, on the merger control and foreign investment control aspects of its sale to BioNTech, a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. 
  • A consortium comprised of GLIL Infrastructure and Octopus Energy Group on the merger control and foreign investment control aspects of its agreement to acquire a 12.5% interest in the Hornsea One Offshore Wind Farm from Global Infrastructure Partners (GIP). 
  • M&C Saatchi, the international marketing agency, on merger control and foreign investment control aspects of its successful defence of the hostile GBP 264m offer made for it by AdvancedAdvT and on the competitive GBP 310m offer made for it by Next15 Communications Group.
  • Gigaclear, and its principal shareholder, a fund advised by Infracapital, on the merger control/foreign investment control and regulatory aspects of an up to GBP 420m equity investment made by funds managed by Equitix.
  • BT on its agreement with Warner Bros. Discovery, Inc. to form a 50:50 joint venture to create a new sports offering for the UK and Ireland.
  • Cadent Gas on its successful appeal to the CMA of Ofgem’s RIIO-2 gas distribution price control.
  • A global ad tech provider on multiple investigations across the EU (including the UK).
  • Arora Group on the competition and regulatory aspects of its planning application for Heathrow expansion and its participation as an interested party in the judicial review claims against the Government’s decision to designate the Airport National Policy Statement.
  • Hyperoptic Limited, one of the UK’s largest residential gigabit broadband provider, and its management shareholders on its strategic sale to KKR, a leading global investment firm.
  • EI Group on the merger control aspects of its £1.27bn sale to Stonegate Pub Company (cleared with undertakings by the CMA at Phase 1).
  • Comcast on all media merger control and media regulatory aspects of its ultimately unsuccessful US$65 billion bid to acquire 21st Century Fox.
  • ITV plc on the competition aspects of its licensing arrangements with ad-tech firm Amobee to create a programmatic TV ad platform.
  • SSE plc on the competition and regulatory aspects of the sale of a 50% stake of its telecommunications business to Infracapital for £380m.
  • A fund manager on the initial stages of the Financial Conduct Authority’s first ever decision using its competition enforcement powers, including responding to the statement of objections.
  • Aviva Investors on the competition and regulatory aspects of several recent acquisitions in the sector, including its £75 million stake in Truespeed, £46 million investment in County Broadband and £45 million investment in ITS Technology Group.
  • Liberty Global on coordinating the media and communications regulatory requirements and notifications relating to the Czech, Hungarian and Romanian aspects of the €18.4 billion sale of its European assets to Vodafone.
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Memberships & Roles

  • Member of the Law Society's Competition Section.
  • Women in Telecoms and Technology.
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Publications

  • Insurance Broking Practice and the Law, Competition Chapter (co-author)
  • GCR’s Antimonopoly and Unilateral Conduct in the UK (2016 to 2020) with Brian Sher
  • LexisNexis’ TMT Regulation chapter of The Financing of Intangible Assets: TMT Finance and Emerging Technologies (co-author)
  • PLC First Use of FCA competition powers: flexing its muscles (April 2019) with Caroline Hobson, Simon Morris and Alison McHaffie
  • CMS Network Sharing Study 3.0 (December 2017) with Chris Watson and Russell Hoare
  • European Commission’s Intellectual Property and Legal Issues in Open Innovation (May 2009)
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Education

  • 2011 – LPC (Distinction), BPP, London
  • 2010 – GDL (Distinction), Kaplan Law School, London
  • 2008 – LLM (High 2:1), University of Cambridge, Cambridge
  • 2007 – Maîtrise de Droit Economique et des Affaires (Mention Tres Bien), Université de Nice-Sophie Antipolis, Nice (France)
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Expertise

12/05/2022
10 key aspects of the revised EU competition law in the field of distribution...
The new Vertical Block Exemption Regulation (VBER) and the new accompanying Vertical Guidelines (VGL) were published on 10 May 2022. The new VBER will enter into force on 1 June 2022 and apply for the next twelve years. The new VBER/VGL introduce sev
Law-Now Distribution and Franchising

Feed

25/09/2024
UK competition law enforcement: decoding the CMA and CAT's decisions
 Is the CMA increasingly focusing on a specific type of in­fringe­ment? Are the nature of allegations getting more soph­ist­ic­ated? How are theories of harm evolving? Are there trends that indicate the levels of fines that businesses can expect to face? What remedies are being favoured by the CMA for different types of in­fringe­ments?   Want to know the answer to these questions, and more?   Please join us on Wednesday 25 September for the launch of CMS’s data-driven research report into competition law enforcement at UK competition law enforcement: decoding the CMA and CAT's de­cisions.   The CMS Competition group has completed a rigorous analysis on competition enforcement in the UK, analysing the CMA’s competition law investigations and CAT appeals since 1998. Our study uncovers patterns and trends that are shaping the landscape of competition law.   We are delighted to be joined by Jessica Radke (Deputy General Counsel at the CMA), Niamh McCarthy (Head of Competition Law, International Airlines Group) and Sarah Ford KC in a series of panel dis­cus­sions. Please click the button below to register for this event.
Event Legal
13/06/2024
UK Government publishes key updates to NSI Act guidance
Overview of the key updates  On 21 May 2024 the UK Government published updated guidance on the scope and application of the UK National Security and Investment Act (NSIA).  The changes respond to some...
Law-Now Energy & Climate Change
12/06/2024
CMS Expert Guide to Foreign Investment Screening Laws in United Kingdom
1. What is the relevant legislation? The UK FDI regime is set out in the National Security and In­vest­ment Act 2021(the Act), which came into force on 4 January 2022. It must be read in conjunction with...
Expert Guide
26/09/2023
Collaborating with competitors? The CMA issues final guidance on horizontal...
Competition authorities have long sought to strike the right balance between preventing illegal forms of collaboration and allowing businesses to cooperate in a way that will foster innovation and promote...
Law-Now
20/09/2023
“Conduct requirements” and “Pro-Com­pet­i­tion In­ter­ven­tions”: New tools in...
This is the third in a series of articles analysing specific features of the digital and competition reforms contained in the recently published Digital Markets, Competition and Consumers Bill (the Bill). ...
Law-Now
15/08/2023
CMS advises Legal & General on the UK’s biggest investment in ground source...
CMS has advised Legal & General Capital (Legal & General) on its further investment in The Kensa Group (Kensa), together with Octopus Energy (Oc­topus). Kensa is the UK’s leading manufacturer and installer...
News
06/06/2023
The UK’s new digital regime regulating firms with “strategic market status”:...
This is the second in a series of articles analysing specific features of the digital and competition reforms contained in the recently published Digital Markets, Competition and Consumers Bill (the Bill)...
Law-Now
17/05/2023
Foreign direct investment control in the UK and around the world
Foreign direct investment (FDI) control plays an increasingly important role in M&A risk assessment. Navigating a plethora of new or expanded regimes adds increasing time and cost to transactions, often...
Event Webinar
04/05/2023
UK merger control reform: significant expansion planned in the Digital...
As noted in our recent Law-Now the UK Government has finally published the long-awaited Digital Markets, Competition and Consumers Bill (the Bill).This is the first in a series of articles analysing specific...
Law-Now
28/04/2023
Specialisation and R&D: how can businesses collaborate without breaching...
Current economic pressure impacting businesses and their supply chains, combined with more pressing demands for better ESG and innovation, are driving businesses to collaborate more closely. This includes...
Law-Now ESG
25/04/2023
Competition reform and the UK’s answer to Big Tech: the Digital Markets,...
On 25 April 2023, the Government published and introduced to Parliament the long-awaited Digital Markets, Competition and Consumers Bill.  The Bill’s scope is wide and covers three broad areas: the...
Law-Now
25/04/2023
CMS’ interactive Digital Markets, Competition and Consumer law regulatory...
Welcome to CMS’ interactive Digital Markets, Competition and Consumer law regulatory hub. Here you will find all of the resources you need on the landmark Digital Markets, Competition and Consumers Act 2024 (DMCC Act) and the UK’s evolving regulatory landscape as this new legislation enters into force.
Publication
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