The Communiqué No. 2010/4 (the "Communiqué") requires approval of the Competition Board (the "Board") on mergers, acquisitions and privatisation transactions that fall within its scope in order for those to be legally valid. The Turkish Competition Authority releases data relating to transactions requiring the Board’s clearance and examines those transactions in an annual report. In this respect, the transactions reviewed by the Board in 2023 were disclosed to public on January 5, 2024 through the Mergers and Acquisitions Overview Report (the "Report") [available in Turkish only].
Sam Baldwin Makes Partner at Szecskay Attorneys at Law
Sam MacMahon Baldwin has been promoted to a Partner position with Szecskay Attorneys at Law in Budapest.
Wojciech Kulczyk and Krzysztof Sikorski Make Partner at WKB Lawyers
Attorneys-at-Law Wojciech Kulczyk and Krzysztof Sikorski have been elevated to Partner positions with WKB Lawyers at the start of 2024.
Antitrust Reform in Ukraine: The Stage is Set
In early September of this year, the President of Ukraine signed the Law “On Amendments to Certain Legislative Acts of Ukraine on Improving Legislation on Protection of Economic Competition and Activities of the Antimonopoly Committee of Ukraine” (the “Law”).
Polish Competition Authority Punishes Non-Compliant Influencers and Looks for Greenwashing
The Polish Competition and Consumer Protection Office (UOKiK) has devoted the last two years to the very important issue of influencers and their online advertising activities. Recent years have seen a significant development of influencer marketing not only in Poland but on a global scale. Across the world, companies and advertising agencies have noticed the growing popularity of celebrity accounts on Facebook or Instagram, and have strategically used them as a new channel to promote products or services.
Gotta catch 'em all: Extending the Scope of the Romanian FDI Screening Regime to EU Investors and Below-Control Acquisitions
A little over one year since Romania’s new foreign direct investment (“FDI”) screening regime became fully operational, the Romanian government passed an emergency ordinance meant to further clarify particular aspects under the law (such as the scope of the screening regime, which is further extended) or to translate into law the lessons learnt or the authorities’ reading of the rules since applying the new FDI law.
The EU Takes a Tough Stance on Foreign Subsidies
Under the EU's Foreign Subsidies Regulation (FSR), companies must notify the European Commission in advance of certain acquisitions, mergers or large public procurement transactions if the groups of companies involved have received financial contributions from outside the EU. Compiling the notification and gathering the necessary information can be a heavy administrative burden for companies, and failure to do so can result in fines of up to 10% of the group's worldwide turnover.