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According to the merger notification received by the Latvian Competition Council, since 1 January 2018, AS Augstsprieguma tīkls owns the majority of votes in the decision-making bodies of AS Conexus Baltic Grid. However, the Latvian Competition Council has concluded that the influence of AS Augstsprieguma tīkls based on the majority of votes in AS Conexus Baltic Grid shall not be considered as lasting and permanent, which is a prerequisite for recognizing of actual decisive influence of a company over another company. At the same time, the Latvian Competition Council assessed whether the acquisition of such a decisive influence in the future could be detrimental to competition.
This is a unique and landmarking case, in which the possible consequences of obtaining actual (de facto) control in the future are assessed even before obtaining lasting and permanent control, which is a prerequisite for recognizing of actual (de facto) decisive influence of a company over another company.
On 13 December 2018, the Latvian Competition Council authorized the merger in case of potential acquisition of a decisive influence in future.
For more information in the Latvian language, please refer to:
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