On Thursday, South Korea’s antitrust regulator gave approval for UBS Group to acquire Credit Suisse Group, stating that the merger is unlikely to have an impact on competition in the local market.
Overseas companies that make sales of 30 billion won in South Korea are required to report their mergers to the regulator. UBS and Credit Suisse, two companies based in Switzerland, have been reviewed in accordance with this regulation.
The Fair Trade Commission (KFTC) released a statement stating that, after reviewing the process, they have determined that the move is unlikely to limit competition in the market for all types of mergers.
Related: EU Set To OK UBS-Credit Suisse Deal
The KFTC conducted an investigation on the effects of vertical and horizontal mergers in various industries including brokerage, acquisition advisory, debt capital market, and asset management.
“All four areas where the horizontal merger is set to occur are already participated in by numerous players that engage in intense competition,” the KFTC said. “Even after the merger, UBS and Credit Suisse are not likely to raise prices, as their shares are small.”
The regulator noted that the two investment banks lack significant market presence in South Korea, which does not disrupt the operations of other competitors.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates On Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI