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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.