16 Nov, 2017

The Energy Community Recognizes “Serbian Menarini”

The Energy Community, the quintessential energy organization aiming to extend EU’s internal energy market and EU acquis to southeastern Europe and the Black Sea region, and create an integrated & sustainable pan-European energy market, recently published its 2016/2017 Annual Implementation Report (Report) (available for download), where it officially acknowledged our ongoing constitutional challenge against the Serbian Competition Act, secondary legislation and general regulations.  The report does a noteworthy job in properly identifying some of the key arguments set out in the constitutional challenge, particularly the criminal nature of competition proceedings, lack of procedural safeguards required by the ECHR, and that the […]

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05 Sep, 2017

When sharing is not caring: exchange of information in M&A transactions and Serbian competition law

This update considers how exchange of information, as an essential part of any M&A transaction (from pre-acquisition discussions, through the due diligence procedure, and up to the closing of the transaction), may cause significant competition concerns under the Serbian Competition Act in terms of potential collusion between competitors. The prohibition on entering into restrictive agreements under the current Serbian Competition Act (CA) applies, as a general rule, to sharing of commercially sensitive information between undertakings. Relevant provisions of the CA prohibit contracts, certain contract provisions, express or tacit agreements, concerted practices, as well as decisions of undertakings associations which have […]

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02 Sep, 2017

Serbian Chamber of Commerce Proposes Total Revamp of Serbian Competition Law?

Recent developments in Serbia, in particular an unprecedented number of hastily opened investigations and Competition Commission’s push for a complete revamp of the competition act, discussed in a recent PLC article “The Dawn of Dawn Raids or the Twilight of Due Process in Serbia?”, raised many eyebrows and prompted significant dissent from both public and private stakeholders.  The widespread dissent took an interesting twist on August 21, 2017 when the Chamber of Commerce and Industry of Serbia (hereinafter: the Chamber of Commerce) issued an invitation for consultations to the members of its Assembly and Managing Board re the application and […]

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10 Jul, 2017

The Dawn of Dawn Raids or the Twilight of Due Process in Serbia?

During the last ten days of May 2017, Serbian competition authority has hastily opened an unprecedented number of investigations.  Simultaneously, the authority announced a push for a complete revamp of the competition act.  Reviewing these developments through the lens of the New Administrative Act, which came into force on 1 June 2017, a strong argument can be made that behind these actions is a desire to circumvent the robust human rights safeguards introduced by the New Administrative Act and guaranteed under the ECHR and the Serbian Constitution. During the last ten days of May, the Commission for Protection of Competition of […]

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07 Jul, 2017

Frikom, Leading Ice-cream Manufacturer, Under the Loupe of Serbia’s Commission for Protection of Competition for the Second Time

On 29 May 2017, the Serbian Competition Commission initiated ex officio proceedings for the alleged abuse of dominance against Frikom, the largest producer of frozen food in Serbia. The day following the initiation of proceedings, a dawn raid at Frikom’s business premises was carried out. Frikom’s abuse of dominance history This is not the first time the Serbian National Competition Authority (NCA) initiated a proceeding against Frikom. In 2012, the NCA found that Frikom abused its dominance in the wholesale market of industrial ice-cream by engaging in vertical price-fixing, imposing exclusivity on retailers (either through explicit exclusivity clauses or through […]

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04 Jul, 2017

Amendments to the Serbian Criminal Code: Restrictive Agreements

One of the amendments to the Serbian Criminal Code (the Code) that will take effect on 1 March 2018 is a new criminal offence for restrictive agreements. Antitrust law has been criminalized in Serbia for decades. So what may be the underlying intention behind these new amendments? In one word: Focus.  The Code does away with abuse of dominance and targets only restrictive agreements.  But it does not stop there.  The new provision is not only narrower than its predecessor but also than the general prohibition on restrictive agreements found in the Serbian Act on Protection of Competition (the Competition […]

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19 Jun, 2017

The Dawn of Dawn Raids or the Twilight of Due Process in Serbia?

In the last 10 days of May 2017, the Commission for Protection of Competition of the Republic of Serbia (hereinafter: the Commission) has decided to roll up its sleeves and put a number of companies suspected of committing competition violations on its conveyor belt.  Unusually high number of unannounced inspections – conducted at the premises of B2M d.o.o., Grafo Trade d.o.o., Trgodunav d.o.o., Master Clean Express d.o.o., AD HI Panonija and Frikom d.o.o. – begs a question, why now?  By way of comparison, the Commission has used its powers to carry out dawn raids on business premises only six times […]

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13 Jun, 2017

Quarterly Review of Decisions Taken by Serbia’s Commission for Protection of Competition

During the first quarter of 2017, the Serbian Commission for Protection of Competition of the Republic of Serbia handed down a number of decisions in different areas of competition protection and recognized the necessity of conducting analyses of vital sectors such as telecoms, oil products and oil-derivatives: Restrictive agreements.  The Commission decided to investigate a close collaboration between two large players on the oil products market in Serbia.  On March 13, 2017, the Commission fined two direct competitors – Victoriaoil and Vital – for entering into a mutual cooperation agreement under which Vital agreed to outsource production and packaging of […]

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12 Apr, 2017

EU Competition: Third Time’s a Charm? Not if you Ask the European Commission

On March 29, 2017, the European Commission (“Commission”) officially blocked the third attempt to implement the merger between the London Stock Exchange Group (“LSE”) and Deutsche Börse AG.  Said decision created an insurmountable obstacle to further cooperation of the two groups which was aimed at creating a European powerhouse able to compete with strong American and fast-emerging Asian financial markets. The long planned merger was to give rise to the world’s largest exchange by total income, the biggest for equities listings, and to an entity that would control more derivatives trades than any other entity in the world.1  It would […]

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23 Dec, 2016

The Highest Antitrust Fine to Date Issued in Serbia to EPS Distribution

Serbian Commission for Protection of Competition (the “Commission“) has fined EPS Distribution, a sole electric power distribution system operator, for the abuse of dominant position in the amount of 330 million RSD (cca EUR 2.7 million).  This is the highest antitrust fine imposed by the Serbian regulator. Having established the EPS Distribution indeed held dominant position, the Commission found several abuses of dominant position and in particular: As a result of non-transparent business policy, the company EPS Supply was placed in an advantageous position compared to competitors. Subject behavior was reflected in (i) the fact that unlike other suppliers, only EPS […]

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