GREECE Law and Practice Contributed by: Anna Manda and Venetia Lazaratou, Karatzas & Partners
tion in Phase I proceedings, and approximately 165 days after the submission of the notification in Phase II proceedings. 3.8 Pre-Notification Discussions With Authorities The Greek Competition Act does not provide for pre- notification discussions with the HCC. Nonetheless, since July 2024, the HCC unofficially encourages undertakings to engage in pre-notification discussions with respect to, inter alia, the relevant markets, and any potential substantive issues that may arise. 3.9 Requests for Information During the Review Process It is fairly common for the HCC to request additional information from the parties. In particular, once the notification is filed, the HCC has seven working days in order to assess whether the data provided by the parties is sufficient. If the HCC finds that further data is needed, it shall notify the parties and the “clock will stop ticking”. Namely, the deadline within which the HCC must reach a decision in Phase I or Phase II will not start running until the HCC has deemed that it has at its disposal all the data that it requires. 3.10 Accelerated Procedure A short notification form may be submitted, if one the following conditions is met: • none of the parties to the concentration is engaged in business activities in the same relevant product and geographic market (no horizontal overlap), or in a market that is upstream or downstream of a market in which another party to the concentration is engaged (no vertical relationship); • two or more of the parties to the concentration are engaged in business activities in the same product and geographical market (horizontal relationships), provided that their combined market shares shall not exceed 15%; • one or more of the parties to the concentration are engaged in business activities in a product market, which is upstream or downstream of a product market in which any other party to the concentra - tion is engaged (vertical relationships), provided that their individual or combined market shares at either level shall not exceed 25%; or
• when a party to the concentration is to acquire sole control of an undertaking over which it already has joint control. When following the receipt of the short notification form, the HCC considers that the long notification form is required, the filing will be deemed incomplete, and the HCC will request all or part of the long form notification information through RFIs.
4. Substance of the Review 4.1 Substantive Test
The key substantive test employed by the HCC in its assessment of a concentration is that a concentration should not significantly impede effective competition, similarly to what is applied under the EUMR (the “SIEC test”). Pursuant to the SIEC test, the HCC will examine whether the concentration may significantly impede effective competition in the Greek market or in a sub - stantial part thereof, in particular through the creation or reinforcement of a dominant position. In its assessment, the HCC will take into account, inter alia, the structure of all the relevant markets, actual and potential competition, barriers to entry, the market position and economic strength of the participating undertakings, any alternatives available to suppliers and users, supply and demand trends for the products and services involved, and the bargaining power of suppliers and customers. With respect to horizontal mergers, the HCC will assess whether a concentration may lead to a signifi - cant impediment to effective competition, by creating or by enhancing a dominant position, either by elimi - nating substantial competitive constraints (unilateral or non-coordinated effects), or by altering the nature of competition and thus facilitating the co-ordination between previously competitive/non-coordinating undertakings (co-ordinated effects). With respect to vertical mergers, the HCC will assess whether the concentration may result in co-ordinated or non-coordinated effects on the vertically affected markets or lead to input or customer foreclosure.
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