In a groundbreaking move, Germany’s ruling coalition has agreed to overhaul the country’s antitrust law. The amended law would give the Bonn-based cartel office more powers to ensure fairer competition and protect smaller economic players when the market is disrupted.
The reforms mean the office can take action when prices jump unexpectedly and companies are allowed to claw back any profits achieved through antitrust violation. In addition, the antitrust watchdog could now break up companies in extreme cases of violation.
Read more: German Federal Cartel Office Launches Investigation Against Deutsche Post Subsidiary
Verena Hubertz, deputy chairwoman of the Social Democrats parliamentary group, has hailed the move, saying it will ensure smaller economic players will be better protected in the future. “The changes will provide these players with a much-needed level of confidence in the structure of the market.”
Meanwhile, Lukas Koehler, FDP lawmaker, has highlighted the importance of the behavior and importance of companies in the market. “This is a condition for competition interventions by the cartel office. Additionally, we have included the option for companies to object to measures and to suspend them pending a court review.”
The overhaul of the antitrust law is a significant step forward in ensuring fairer competition in Germany and protecting smaller economic players in particular. With the new powers, the cartel office will be able to take appropriate action against companies found to be trying to disrupt the market.
Source: Reuters
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 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