Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

The principal rules governing prior review of mergers are Decree No 2153 of 1992, Chapter II of Title VII of the SIC's Single Circular last modified by SIC Resolution No 10930 of 11 March 2015 and Act No 1340 of 2009. …

Context

The principal rules governing prior review of mergers are Decree No 2153 of 1992, Chapter II of Title VII of the SIC's Single Circular last modified by SIC Resolution No 10930 of 11 March 2015 and Act No 1340 of 2009.

According to Section 9 of Act No 1340 of 2009, mergers, consolidations or acquisitions of control between undertakings in the same business activity (horizontal mergers) or participating in the same value chain (vertical mergers).

Concept of concentration

Transactions must be notified in advance to the SIC where one of the following thresholds is reached: 

- the parties, jointly or separately, had during the preceding tax year, operational income above 60,000 times the minimum monthly wage in Colombia (US$ 14.6 million); or 

- the parties, jointly or separately, had during the preceding tax year, total assets valued at more than 60,000 times the minimum monthly wage in Colombia (US$ 14.6 million).

However, where those thresholds are met but the combined market share of the parties is lower than 20% on the relevant market, the transaction is not subjet to authorization but only notification.

Thresholds

When a transaction produces and “undue restriction on competition” (section 11), the law provides that the parties can raise the existence of efficiencies that otherwise would not be possible to achieve (Section 12). A transaction will only be cleared on efficiency grounds when the parties are able to prove that the efficiencies can be measured and passed on to consumers. 

Global Competition Law

951. Context

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Les notions juridiques connexes

951. Context

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Les notions juridiques connexes

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