The Pro-investment and Job Creation Working Group of Peru’s congress has announced it will hold two more sessions with government representatives and industry groups as they seek to hash out the terms for creating a new legal framework that will allow the country to effectively regulate Mergers and Acquisitions.
Jorge del Castillo, coordinator for the working group, said that there are currently no laws in place that would allow the government to act to prevent monopolies from forming or to punish the abuse of dominance in the market, which has prompted the need to create a legal framework in this regard. The group’s proposal would join an existing Law Project presented by congressman Yonhy Lescano towards the end of 2016, which put forward the idea of giving industry regulator INDECOPI the authority to regulate all company mergers which affect over 51% of the market in any specific sector.
Finally Marco Arana, congressman for the Frente Amplio group and author of yet another M&A bill, remarked on the importance of fighting back against market concentration and monopolies, especially in the food, medicine and public services sectors. The congressman called on Del Castillo to work together with the previous projects in order to complement each other’s efforts.
Full Content: La República
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
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