Administrative Court – Sofia District lifted the ban of the Commission for Protection of Competition (CPC) related to the acquisition of assets of the Czech company CEZ by Eurohold, and with its decision the court returned the case to CPC and the Commission must issue a new decision.
The EUR 335 million agreement was blocked on October 24, 2019, the reason given by the Commission being the market power of Eurohold on the insurance market. The sale of CEZ’s assets in Bulgaria is banned by the commission for the second time. The decision to ban the deal has been signed by CPC, but one of the members of the commission – Anna Yaneva has a special opinion on the issue, stating that the decision was taken inconsistent with the legal framework.
The court ruled that “CPC was obliged to state its conclusion on the effect of the concentration on the competition as well as to explain whether such measures are necessary to preserve the effective competitio”as well as ”that the commission was obliged to conduct adequate communication with the informant and in view of his readiness to adopt similar measures.
The full court decision is available at: