Bulgaria’s Competition Protection Committee stated (October 10 ) it is launching an in-depth probe into financial and insurance group Eurohold’s deal to buy Czech power company CEZ’s local assets as it would significantly impact their market positions.
CEZ decided to leave the country over long-standing disputes with the Bulgarian authorities, and the deal with Eurohold comes after an earlier deal struck by the Czech utility to exit its investment in the country was blocked by regulators.
In June, CEZ signed a deal with local firm Eurohold for the sale of its assets in Bulgaria, but the agreement is yet to be allowed by the Bulgarian authorities.
According to the CPC, the combination of the resources and operations of two large economic groups, active on the insurance and energy markets, would significantly impact their market positions. It also noted that such a deal could lead to the expansion of an economic group, especially in terms of assets, to such an extent that it threatens competition on the whole market, according to the regulator.
Full Content: Intelli News
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