Argentina: Government pushes change to Merger & Acquisition rules to foster competition

Argentina’s Trade minister, Miguel Braun has announced it is preparing a proposal that will seek to update the existing legislation on business Mergers and Acquisitions, buffering its promotion and defense of free competition.

“We have a law proposal, ready to send to Congress” that will seek to bring the rules on the Defense of Competition up to date, with rules on the approval or blocking of companies seeking to merge with, or swallow up a rival. Minister Braun highlighted the need to “institutionalize competition as State Policy.”

Commenting on the impact on the country’s National Commission for the Defense of Competition (CNDC), the newly-reshuffled agency in charge of watching over and regulating market competition, Braun said that “they should act as a tribunal, which investigates and recommends certain remedies and sanctions. And in this as well, because of legislation, they are working very slowly. The new proposal will update these laws to make the organism more efficient and dynamic.”

Full Content: CBA 24

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