| Abstract [eng] |
Minority Shareholdings Acquisition: Competition Problems and Ways to Solve Them The thesis provides the analysis of laws and case practice in regard to acquisition of non-controlling minority shareholdings. The thesis concentrates on identifying and analysing the competition problems arising from non-controlling minority shareholdings acquisitions. The analysis is concluded by identifying that both active and passive minority shareholdings create competition problems which require attention while the main rights which influence other undertakings behaviour are access to commercial information, the ability to nominate person to board of directors and the ability to block special resolutions. However, the ability to influence the behaviour should be determined on case by case basis. The issues discussed above are further analysed through the existing relevant European and national law, e.g. TFEU Articles 101 and Article 102, and the Republic of Lithuania Law on Competition Articles 5 and 7, and suggests that an enforcement gap exists in regard to acquisition of non-controlling minority shareholdings, thus there is a need to extend the application relevant provisions. Such conclusion is reinforced by the analysis of the European Commission White paper. Although the initiative to extend the application of European Union Merger control has come to hold, the harm to consumers forces us to evaluate the extension of applicability of national merger control. In the end, it is concluded, that ex post merger control is best suited to solve the arising problems while in turn limiting the administrative burdens arising to undertakings concerned. However to ensure the legal certainty the time limit of ex post merger control should be reviewed and shortened. |
