Ley del Sistema Venezolano para la Calidad · Ley para el Control de los Ley Antimonopolio, Antioligopolio Y La Competencia Desleal. Competition is more commonly known as the ‘Ley Anti-Monopolio’. The new legislation applies to all companies carrying out activities in. Venezuela, including. Editorial Jurídica Venezolana, Caracas, p 15 Guerra VH, Escovar R () FUNEDA, Caracas, p83 Hernández JI () Comentarios a la Ley Antimonopolio.

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Which type of transactions must be notified? Third parties ie, competitors may request the opening of an investigation after closing. Since filing is voluntary, there is no triggering event to file the notification. Conatel may only approve a transaction if the opinion of the Superintendency is favourable. What is the legislation applicable eh merger control and how long has merger control legislation been in force?

However, only when there is a horizontal overlap might there be an interest by the authority to proceed with an investigation. However, if the threshold is antimonopoljo, the Superintendency may open a proceeding to investigate the impact of any transaction on competition in the Venezuelan market within five years of the closing of the transaction.

Where pre-closing notification and approval is required, can a transaction that has been approved be challenged after closing? The Superintendency generally meets some of the parties seeking to merge to clarify certain issues relating to the market and the filing. The business law resource for Latin America. Previous Next Back to top Back to question list. Do the authority and its staff share their concerns about a venezueela with transaction parties at each stage of review?

There are no effective antimojopolio in case of delays in issuing the approval by Conatel.

In its opinion the Superintendency may recommend Conatel to impose certain conditions to approve the transaction. Can remedies be negotiated, and, if so, at what stage in the process? Where change in control is part of the test, what is the standard for defining control and changes thereof for pre-merger notification purposes?


According to the Merger Guidelines, there are several aspects to consider in determining whether a transaction is anti-competitive.

Previous Back to top Back to question list. All parties to a transaction must file the notification separately. The review process, confidentiality and the role or influence of third parties The Venezuelan competition rules on mergers are contained in: The Superintendency considers both the post-transaction market concentration and the increase in concentration resulting from the transaction.

The Superintendency also analyses barriers to entry, the dynamic of competition and efficiencies created out of the transaction.

The request must be signed by an attorney. What type of transactions qualify? You are currently accessing Latin Lawyer via your firmwide account. However, the main focus of the test has been on barriers to entry. We have no references for this item. Where eh is an obligation antimonopoluo to close the transaction pending review, is there any alternative available to allow closing before formal clearance? If a transaction is not notified and then an investigation is opened, the Superintendency may impose certain obligations on the parties including remedies and divestitures and fines of up to 20 per cent of gross sales.

Legislation Venezuela (Lexadin)

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: The economic group would be comprised of companies controlled by the parties in Venezuela or companies in Venezuela that exercise control over the parties.

Although an independent administrative agency, the Superintendency depends on the Ministry of Commerce. However, if one party does not have presence in Venezuela whatsoever, it may be advisable to avoid notification. It also allows you to accept potential citations to this item that we are uncertain about. Is there any additional sector- or industry-specific merger regulation legislation? What is the timeline for review and clearance?

This allows to link your profile to this item. Are there filing fees? If you would like to login via a personal account, please use the link below.


Normally the authority is not open about its concerns over a transaction until a final decision is issued. Administrative court decisions can be appealed to the political and administrative chamber of the Supreme Tribunal of Justice.

Pre-notification contacts are informal and there is no standard procedure to follow. Transactions that do not imply gaining control over another entity are not subject to the Merger Regulation.

Questions Applicable legislation and the competent authorities 1. All information filed by the parties to the Superintendency is in principle confidential. The Venezuelan Capital Markets Law provides that any person intending to commence a tender offer of a listed company shall notify its intention to the Venezuelan Securities Authority.

Transactions that are subject to merger control include any: The decision was not appealed by the parties. In this case, the Superintendency must notify the parties, which have 15 business days that may be extended for 15 additional days to present evidences and arguments.

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Venezuela: la ley antimonopolio

Corrections All ne on this site has been provided by the respective publishers and authors. The Superintendency is in charge of evaluating and antiomnopolio whether mergers voluntarily notified may have restrictive effects on competition.

With the notification, the person intending to commence the tender offer must inform the Securities Commission of the effects of the transaction on competition, according to the Competition Law. What are the investigative powers of the authority? If so, please describe and provide recent examples where reconsideration led to a revised outcome.

Internal company documents, such as documents prepared for the board and reports and strategy papers prepared during the negotiation of the deal, are rarely requested and must only be disclosed upon request by the authority.