Substantive Convergence in Merger Control: An Assessment
Revue des Droits de la Concurrence, Jan 2015, Vol. 1, Issue 1, p. 21‑41
24 Pages Posted: 21 Nov 2016
Date Written: January 1, 2015
Abstract
This article focuses on substantive convergence in merger controls, a topic of increasing importance and on which there is no unanimity. Two questions are discussed: First, how much substantive convergence has taken place over the last two decades? Second, how much more convergence is possible ? Based on work done in the context of the OECD and the ICN and on a detailed study of competition laws and merger control practices in various countries including China, South Africa and Brazil, this article shows that there has been a tendency towards convergence on merger control during the last two decades but that the level of convergence is uneven and very much depends on which substantive issue one focuses. It suggests that complete convergence is neither realistic nor economically justified. It argues that the remaining substantive differences between merger control regimes are often due either to differences in the economic characteristics of countries or to the presence of public interest clauses in merger control laws of some countries. It suggests a way to decrease the importance of public interest considerations in merger control laws to promote further convergence.
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