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CPC has prohibited Eurohold Bulgaria to buy CEZ’s undertakings in Bulgaria

Christian Fernsby |
The Commission on Protection of Competition (CPC) has prohibited the acquisition of indirect sole control by Eurohold Bulgaria AD’s over CEZ’s undertakings in Bulgaria.

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Based on the provided information and evidence during the investigation, the Commission’s analysis found that the notified operation leads to conglomerate effects in the insurance market and the electricity sector.

The proposed transaction will lead to significant increase in the market power of the undertakings concerned and they will have the possibility to act in a great extent independently from their competitors.

On the ground of the entire analysis the Commission concluded that merging the experience, the economic resources and the market positions of the parties in the electricity and insurance sectors raises concerns that the notified concentration leads to the creation or strengthening of a dominant position of the united group and significantly impedes the effective competition in the relevant markets.

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