Competition Issues April 2011

World's richest man fined $1bn for abusing phone monopoly
The Independent, April 26, 2011

Mexico's competition authorities have levied a $1bn (£600m) fine against a company belonging to Carlos Slim, the world's richest man, ordering it to stop unfair practices. The Federal Competition Commission found Telcel engaged in "relative monopolistic practices" by overcharging competitors to connect calls to Telcel users.<<More>>

Govt. committed to bring fair merger, acquisition regime for economic growth: Deora
ANI, April 21, 2011

Union Minister of Corporate Affairs Murli Deora said that the Competition Commission of India (CCI) will soon finalise regulation on mergers and acquisitions that may create monopoly in the market.<<More>>

Independent Commission on banking report
Myintroducer.com, April 11, 2011

The Independent Commission on Banking published its Interim Report today. Industry commentary included. The Commission has been asked to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition, and to make recommendations to the Government by September 2011. <<More>>

Govt likely to modify M&A rules
Business Standard, April 08, 2011

The central government is likely to notify the merger and acquisition (M&A) rules meant to operationalise M&A provisions prescribed under the Competition Act, 2002 by mid-April. The M&A rules will lay down the procedures for administering the merger provisions that is to take effect from June 2011. <<More>>

New policies expected from Secretariat of Economic Law
International Law Office, April 07, 2011

Vinicius Marques de Carvalho was nominated as the new head of the Secretariat of Economic Law (SDE). Carvalho is one of seven commissioners for the Administrative Counsel for Economic Defence (CADE) and his nomination has received a welcome response. <<More>>

Wal-Mart Takeover Deal in Court's Hands
Namibian, April 07, 2011

A legal battle that could determine the fate of American retail giant Wal-Mart's planned multibillion-dollar takeover of South Africa's Massmart group was fought in the High Court in Windhoek. <<More>>

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