The EU Commission clears a merger between two leading audit and accounting companies addressing the issue of possible collective dominance (Price Waterhouse / Coopers & Lybrand)

"Mergers : Recent Developments and Important Decisions"* In Price Waterhouse/Coopers & Lybrand, cleared on 20 May, the Commission examined the possibility that the proposed merger would create collective – oligopolistic or duopolistic - dominance, as well as the more usual concern over dominance by a single firm. The market in question was that for the supply of auditing and accounting services to large companies. This was found to be a distinct product market because for such companies, only accountancy and audit firms with very extensive resources and specialised expertise, wide geographic spread, and a strong reputation in the world’s financial markets, would be able to provide the nature and quality of service they required. For these customers, the market comprised few

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Authors

  • European Commission - DG TRADE (Brussels)
  • DG COMP (Brussels)

Quotation

Geraldine Emberger, John Kemp, The EU Commission clears a merger between two leading audit and accounting companies addressing the issue of possible collective dominance (Price Waterhouse / Coopers & Lybrand), 20 May 1998, e-Competitions Bulletin May 1998, Art. N° 39374

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