14 Ianuarie 2010
Competition Council opens probe into Asesoft-Flamingo deal
Competition Council opened an investigation into Asesoft takeover of Flamingo International distribution business, and potential antitrust violations in tech retailing.
The antitrust authority undertook impromptu visits at the headquarters of Asesoft Distribution as part of the investigation.
“The failure to meet the obligation of not pursuing further with the implementation of an economic concentration before receiving the authorization from the Competition Council is a severe violation of antitrust laws on mergers and acquisitions. Therefore, the Competition Council will use all available tools to make sure economic agents observe these regulations”, said Bogdan Chiritoiu (photo), chairman of Competition Council.
Under the Competition Law, the execution of an economic concentration operation is forbidden until is approved by the Competition Council.
Asesoft Distribution controls, together with other individuals Dante International SA and Emag International, companies with operations in tech, electronic and home appliances retailing in Romania. The transactions were approved by the antitrust authority in November 2009.
“The failure to meet the obligation of not pursuing further with the implementation of an economic concentration before receiving the authorization from the Competition Council is a severe violation of antitrust laws on mergers and acquisitions. Therefore, the Competition Council will use all available tools to make sure economic agents observe these regulations”, said Bogdan Chiritoiu (photo), chairman of Competition Council.
Under the Competition Law, the execution of an economic concentration operation is forbidden until is approved by the Competition Council.
Asesoft Distribution controls, together with other individuals Dante International SA and Emag International, companies with operations in tech, electronic and home appliances retailing in Romania. The transactions were approved by the antitrust authority in November 2009.