The Czech Competition Authority rejects an appeal concerning structural merger remedies in the energy sector, but deprives itself of the right to approve the buyer of divested assets if the future transfer is not itself subject to assessment under statute (ÈEZ / STE / VÈE / SÈE / ZÈE / SME / PRE / JME)

The operation The merger concerned constituted one of the phases in a wider framework of the government's strategy to privatize state controlled stakes in the energy sector. The concerned transaction involved the transfer of shares directly owned by the state in eeight regional energy distribution companies ("REDCs") to ÈEZ. The operation involved transfer of controlling stakes in five REDCs (STE, VÈE, SÈE, ZÈE and SME), and shares of about 35 % in the remaining three REDCs (SME, PRE and JME) (p. 1). In the first instance proceedings, the Office cleared the merger under several structural remedies aimed at preserving minimum competitive parameters on the relevant markets. ÈEZ as a party to the proceedings contested the decision heavily, objecting almost all of its points and claiming the

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  • Clifford Chance (Prague)

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Eva Valentová, The Czech Competition Authority rejects an appeal concerning structural merger remedies in the energy sector, but deprives itself of the right to approve the buyer of divested assets if the future transfer is not itself subject to assessment under statute (ÈEZ / STE / VÈE / SÈE / ZÈE / SME / PRE / JME), 18 March 2003, e-Competitions Bulletin March 2003, Art. N° 20909

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