19 November 2015

CNMC modifies notification process for mergers in regulated sectors

The Spanish Competition Authority, the Comisión Nacional de los Mercados y la Competencia (CNMC), has published an updated version of its communication on the abbreviated merger’s notification form used for simplified procedures.

On 4 July 2013, the Spanish parliament enacted the Act 3/2013 to create the CNMC, a super-regulator combining the functions of the now extinct National Competition Commission (CNC) and the regulators responsible for telecommunications, energy, postal services, audio-visual media, airport services and rail transport. 

Prior to this integration under one single watchdog, merger transactions which required a report by the relevant sector regulator were subject to a full form submission, even if the characteristics of the proposed transaction would qualify for a short notification form under normal circumstances. This procedure was justified due to the necessity of two reports, one from the regulator and a second from the extinct CNC, which increased the complexity of clearance proceedings and delayed the maximum period of one month for obtaining clearance.

The CNMC, based on empirical experience from the last few years, has noticed that the existence of cross-reports between its different departments have proved that the information requirements are smaller. Therefore, since the publication of this communication, transactions in regulated sectors, which in unregulated sectors would qualify for a short notification form, are entitled to be filed using the short notification form.

Nonetheless, the CNMC reserves the right to request a full notification form in certain situations such as when there are restrictions that require a deep analysis in order to determine whether they may have an auxiliary impact or not, or when Article 55 of the Spanish Competition Act 15/2007 requires a previous report issued by a regulator which is not under the umbrella of the CNMC.

Data Central

Have you checked out our new Data Hub? Data Central contains a range of resources to help our clients minimise the legal, regulatory and commercial risks this data-driven environment presents and ensure that its full value is being realised.

A Guide to Doing Business in China

We explore the key issues being considered by clients looking to unlock investment opportunities in the People’s Republic of China.

Doing Business in China
Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    We discusses recent developments and emerging trends in competition litigation involving the Competition Appeal Tribunal.

    28 November 2016

    The European Commission’s proposed Geo-Blocking Regulation fails to address some of the key e-commerce concerns the Commission had previously identified.

    21 June 2016

    This article was written by Andrew Morrison (associate) Ultra Finishings On 10 May 2016 the UK Competition and Markets Authority (the CMA) fined Ultra Finishing Limited (Ultra) £786,668 for...

    21 June 2016

    European Commission refrains from imposing regulations specifically targeting online platforms, for now. General EU e-commerce rules will however apply.

    20 June 2016

    You may also be interested in...

    Legal services for your business

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.