The Hungarian Competition Office concludes that the conditions for individual exemption are fulfilled in case of a joint purchasing and marketing agreement, having found that the joint-venture was not full function (Euronics)

The Hungarian Competition Office (HCO) initiated proceedings against the founding companies of Euronics to verify (i) whether Euronics can be regarded as a full-function joint venture, whose establishment should have been notified to the HCO, and (ii) whether the cooperation agreement concluded by the founding companies in relation to Euronics is contrary to the prohibition of anti-competitive agreement contained in the Hungarian Competition Act. Vöröskö Kft., Elektro-Quality Kft. and Bravotech Kft. (Founders) in March 2001 established Euronics in order to join the international brand of Euronics and to exploit the advantages of joint purchasing and marketing, as well as of a common appearance on the market The scope of activities of the Founders is retail and/or wholesale of