Germany

German antitrust law is primarily governed by the Act Against Restraints of Competition, which is intended to preserve the freedom of competition by maintaining competitive market structures. According to Section 98 GWB, the Act applies to all restraints of competition which have effects on Germany,...

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Bibliographic Details
Published inInternational financial law review p. 22
Main Author Meyer-Lindemann, Hans Jurgen
Format Magazine Article
LanguageEnglish
Published London Euromoney Institutional Investor PLC 01.09.1997
Subjects
Acquisitions & mergers
Agreements
Antitrust laws
Cartels
Competition
Interlocking directorates
Investigations
Joint ventures
Monopolistic competition
Voting rights
Germany
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Summary:German antitrust law is primarily governed by the Act Against Restraints of Competition, which is intended to preserve the freedom of competition by maintaining competitive market structures. According to Section 98 GWB, the Act applies to all restraints of competition which have effects on Germany, regardless of whether domestic or foreign enterprises are involved. The decisive test with regard to the prohibition of a merger by the Federal Cartel Office is whether the merger could be anticipated to create or strengthen a market-dominating position. Under this rule even a minor adverse effect on the competitive situation may render a merger illegal. Market-dominating enterprises are subject to abuse control by the cartel authorities, with the rationale that there is a lack of competitive controls over these enterprises. In the context of the review of current competition law, several new regulations have been discussed. An enactment of the revised law is envisioned for January 1, 1999.
ISSN:0262-6969