Bill set to speed up clearance of mergers
Hungaryʼs Minister of Justice László Trócsányi submitted a bill to Parliament last Friday that would accelerate the process of clearing mergers and acquisitions with the Hungarian Competition Authority (GVH), Hungarian news agency MTI reported.
The bill would replace the submission of applications for approval of mergers with a “mandatory report” of mergers. GVH would have to review the report immediately and make a decision on whether or not to launch a procedure scrutinizing the impact of the transaction on competition within eight days. If no procedure is launched, the merger may go ahead.
Trócsányi noted in the billʼs justification that the proposed changes to the system of reviewing mergers are in line with the EC Merger Regulation.
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