Paul Reynolds

M: +44 (0) 79 3905 4258
T: +44 (0) 20 3440 5529
E: preynolds@ceg-europe.com


Paul Reynolds, a founding partner of CEG, has advised clients on a wide range of competition law, regulation, spectrum and litigation matters. Paul has assisted companies and lawyers in responding to investigations by national regulatory and competition authorities, the European Commission, and in court proceedings and international arbitrations.  Paul has provided expert testimony in cases before national courts and regulators and in international arbitrations. 

Paul has advised on a number of the world’s largest mergers including Procter & Gamble/Gillette, HP/Compaq and T-Mobile/tele.ring. Paul has also advised on a range of general competition cases including in relation to alleged margin squeezes, anti-competitive price discrimination, refusal to supply, cartels and state-aid investigations.

Paul has particular expertise in relation to the telecommunications and broadcasting industries. Paul has analysed the development of competition in fixed, mobile and broadcasting markets as part of competition law investigations and in the context of regulatory market reviews. Paul also has expertise in the design of regulation including for local loop, broadband access, and fixed and mobile interconnection services.  Paul has provided expert reports in appeals before the UK Competition Appeal Tribunal on WLR, LLU and mobile termination pricing.  Paul has developed and assessed Long Run Incremental Cost Models for a number of operators in Europe and the Asia Pacific.  Paul has also advised on the determination of the Weighted Average Cost of Capital in regulatory and legal proceedings.

Paul has advised operators in preparing for spectrum auctions in a number of jurisdictions as well as on spectrum pricing and spectrum policy more generally. Paul has prepared several reports for the GSM Association including on best practice in licensing spectrum.  

The UK Competition Appeal Tribunal’s Sainsbury’s/Mastercard judgment 2016 commented "Mr Reynolds was a most impressive expert witness: he obviously knew his subject intimately, and gave his evidence forthrightly and clearly. He was especially good at articulating why he, and his opposite number on the MasterCard side, Mr Harman, had reached differing conclusions, thus enabling the Tribunal to understand exactly the points in issue.

Paul was previously a partner in another leading consulting company. Paul has also worked in the Australian Competition & Consumer Commission and the Australian Federal Treasury.