Lights and Shadows in the Modernization of Spanish Merger Review
The Threshold: The Newsletter of the Mergers & Acquisitions Committee (ABA Antitrust Section), Vol. VIII, No. 3, pp. 25-30, Summer 2008
7 Pages Posted: 18 Mar 2009
Date Written: August 1, 2008
Almost a year ago, and after substantial debate and a long legislative process, the reform of Spanish competition regulation was completed. The new Competition Act, which came into force on September 1, 2007, supersedes the previous Act of 1989 and significantly transforms the Spanish system for the defense of competition. The Competition Act has introduced major changes in the review of mergers and other business transactions that may lead to increased market concentration. With the aim of modernizing the merger review (MR) procedure, several features of the system have been modified and deserve comment. Major institutional overhauling through the creation of the National Competition Commission (NCC) will significantly impact all aspects of competition regulation in Spain, including MR.
Keywords: Antitrust, Competition Law, Competition Policy, Merger Review
JEL Classification: L40, L49, K21
Suggested Citation: Suggested Citation