The Commission for the Defense of Consumer Affairs in Peru’s Congress began the debate over the four bills presented that seek to regulate mergers and acquisitions in the country.
During the debate, Javier Coronado and Jesús Espinoza, general manager and technical secretary of Indecopi’s Free Competition Commission respectively, participated in the debate, emphasizing the need to create new regulation procedures for corporate mergers, covering low-risk operations as well as those that require a thorough review.
“Indecopi favors having objective and clear thresholds, which are related to the sales volume of the companies involved, it is the best international practice and it would facilitate the market to understand who should go through this process and who should not,” explained Coronado. For his part, José Tavara, professor of Economics of the PUCP, supported the initiative by pointing out that “Peru is one of the few countries in the world where a company can buy all its competitors without any limit to form monopolies.”
The commission’s president, Miguel Castro, indicated that similar initiatives will be presented in the coming days, so the parliamentary debate will be extended by a couple of sessions in order to prepare an opinion statement that will be put to vote, and subsequently presented to the Plenary Session of Congress.
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