Busy Times at the Competition Appeal Tribunal


The authors discuss recent decisions around multilateral interchange fees and excessive pricing by the Competition Appeal Tribunal.

The authors review three 2018 multilateral interchange fee (MIF) cases, Sainsbury’s v MasterCard, Asda and others v MasterCard, and Sainsbury’s v Visa, which considered whether MIFs restricted competition. They discuss the implications of the inconsistent decisions adopted by the Competition Appeal Tribunal (CAT) (in Sainsbury’s v. MasterCard) and the Commercial Court (Asda and others v MasterCard, and Sainsbury’s v Visa).

The authors also discuss the Pfizer/Flynn v CMA excessive pricing matter as well as a number of other key decisions by the CAT, Competition and Markets Authority (CMA) and Financial Conduct Authority (FCA) in 2018.

The chapter appears in the GCR’s Competition Economics Handbook 2019, first published in November 2018.

The views expressed herein do not necessarily represent the views of Cornerstone Research.


  • London

Vikram Kumar