The Hungarian Competition Authority interprets the notion of a “direct participant” and confirms that non-competition obligation clauses which benefit the vendor are unlikely to qualify as ancillary restraints (Ringier Axel Springer / Central Médiacsoport)

On 29 October 2014 the Hungarian Competition Authority cleared the acquisition of two employment websites by Ringier Axel Springer Media AG(“RASMAG”) [1], but warned that the restrictions imposed on the purchaser in the sale and purchase agreement may not qualify as ancillary restraints. It also made important remarks regarding the calculation of turnover in cases where a joint venture acquires part of an undertaking. 1. The transaction The notified concentration consisted of RASMAG acquiring two employment websites operated by Centrál Media Group Zrt., including all assets, rights,

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Orsolya Staniszewski, The Hungarian Competition Authority interprets the notion of a “direct participant” and confirms that non-competition obligation clauses which benefit the vendor are unlikely to qualify as ancillary restraints (Ringier Axel Springer / Central Médiacsoport), 29 October 2014, e-Competitions Bulletin October 2014, Art. N° 74701

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