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Unification of Antitrust Approaches to Transactions Involving Economic Concentration

Unification of Antitrust Approaches to Transactions Involving Economic Concentration. Yelena Bychkova, Non-Commercial Partnership "Competition Support in the CIS" Almaty , 10 October 2011. ANTITRUST LEGISLATION OF THE CUSTOMS UNION MEMBER STATES.

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Unification of Antitrust Approaches to Transactions Involving Economic Concentration

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  1. Unification of Antitrust Approaches to Transactions Involving Economic Concentration Yelena Bychkova, Non-Commercial Partnership "Competition Support in the CIS" Almaty, 10 October 2011

  2. ANTITRUST LEGISLATION OF THE CUSTOMS UNION MEMBER STATES Non-Commercial Partnership “Competition Support in the CIS”

  3. EXTERRITORIALITY OF ANTITRUST LEGISLATION Transactions: • are performed outside the state territory • are between local or foreign entities • involve fixed assets, intangible assets, shares (participation interests)or rights of local legal entities • affect orrestrict competition Non-Commercial Partnership “Competition Support in the CIS”

  4. EFFECT OF TRANSACTIONSON COMPETITION • restriction of competition or other negative implications on commodity markets • restriction of competition • effect on the status of competition Non-Commercial Partnership “Competition Support in the CIS”

  5. TRANSACTIONSRECOGNIZED ASECONOMIC CONCENTRATION Common provisions: • reorganization of legal entities • acquisition of shares (participation interest) in legal entities • acquisition of assets • acquisition of controlling interest • incorporation of legal entities Non-Commercial Partnership “Competition Support in the CIS”

  6. COMMON CONDITIONS FOR TRANSACTION APPROVAL • thresholds (total book value of assets or total sales) • participation of a dominant or monopolistic entity in the transaction Non-Commercial Partnership “Competition Support in the CIS”

  7. NO APPROVAL OF TRANSACTIONS REQUIRED, IF • the transaction is within the same group of entities • the transaction is based on a special decree of the President or Government • shares (participation interest) in a market entity are acquired by financial organizations for resale, provided that no controlling interest is acquired • a rehabilitation manager, receiver or temporary administration is appointed Non-Commercial Partnership “Competition Support in the CIS”

  8. ISSUES • ambiguity in defining the categories of economic concentration transactions • different approval conditions • different conditions excluding the need for approval • necessity to have the transaction approved by antimonopoly agencies of several states Non-Commercial Partnership “Competition Support in the CIS”

  9. UNIFICATION PROPOSALS • develop unifiedbasic definitions (Group of Entities, Economic Entity, Market Entityetc.) • establish unified qualification criteria for economic concentration transactions • clarify approval criteria for transactions performed within one jurisdiction • clarify approval criteria for transactions performed outside a jurisdiction • provide for the opportunity to have a multijurisdictional transactionapproved by antimonopoly agency in one jurisdiction Non-Commercial Partnership “Competition Support in the CIS”

  10. Thank you for your attention! Yelena Bychkova, Non-commercial partnership "Competition Support in the CIS"

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