Le contrôle des concentrations
Globalisation is not only characterized by an increasing number of international mergers and acquisitions, but also by a proliferation of national systems of competition law and of control of industrial concentration. The multitude of national systems of control, however similar in their principles, results in a diversity of laws both as regards substance and enforcement. Therefore, rather than compensating for the absence of international rules of competition law, the many national laws increase transaction costs, are haunted by inherent limitations, and risk to produce international conflicts. The report, first, explains the jurisdictional limitations of national control over international mergers, the difficulties to properly determine the relevant international markets, and the risk of a national bias in assessing cross-border mergers. It then goes on to present both the high transaction costs resulting from the necessity to comply with a large number of procedurally different systems of control, and the obstacles which divergences of substantive law and competition policy may raise. An examination of the rather rudimentary system of multilateral agreements on international enforcement and of the increasing number of bi-lateral governmental agreements on cooperation in the field of antitrust law shows that, even though these agreements have become ever more sophisticated in moving from simple information to negative and even to positive comity, they will not by themselves solve the problems. Bilateral cooperation is procedurally imperfect, it minimizes, but does not exclude conflicts, and it works reasonably well only between politically and economically equal partners. Prospects for international harmo~nisation, let alone for centralisation of merger control remain dim as there is neither a consensus on the institutional framework nor on the rules of substantive law. Therefore, the report concludes by a discussion of more modest approaches such as harmonisation of procedures and settlement regimes for conflicts of jurisdiction.
Volume (Year): t. XVI (2002)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.cairn.info/revue-internationale-de-droit-economique.htm|
When requesting a correction, please mention this item's handle: RePEc:cai:riddbu:ride_162_0175. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.