The Competition Protection Commission has adopted a regulation on remedies for the restoration of effective competition when it has serious doubts about whether a notified transaction may establish or strengthen a dominant position and opens an in-depth phase of the merger control proceedings.
According to the Competition Protection Act, the commission may impose or approve remedies. The regulation now envisages behavioural and structural remedies, in order for all types of concentration to be covered. The remedies must meet the admissibility criteria set out in the regulation, relating to issues such as efficiency, objectivity, proportionality, adequacy and sufficiency.
Pursuant to the regulation, when the commission opens an in-depth phase of the merger control proceedings, it must give the parties at least 14 days to propose remedies. Afterwards, the commission will conduct a market test by questioning competitors, suppliers and clients regarding the effectiveness of the proposed remedies. The commission will assess the proposed remedies once the undertakings concerned have described them in detail, and will qualify as admissible only those which meet the criteria set out in the regulation. The undertakings may be heard by the commission in an open hearing, if they so request. If the proposed remedies do not meet the criteria, the commission may provide the undertakings with additional time to propose new remedies.
With the adoption of the regulation, the commission aims to make merger control proceedings more transparent.
For further information on this topic please contact Ilko Stoyanov at Advokatsko Druzhestvo Andreev Stoyanov & Tsekova in cooperation with Schönherr Rechtsanwälte GmbH by telephone (+359 2 933 1072), fax (+359 2 986 1105) or email ([email protected]).
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