The Chilean Free Competition System regulated by Decree Law No. 211 was recently amended by the new Law No. 20,945
Among the matters addressed by this new law is the creation of a new anticompetitive offense denominated “direct horizontal interlocking”, the criminalization of collusion in relation to hard cartels, as well as an increase in fines on acts against free competition.
On the other hand, Law No. 20,945 stipulates that a company must report the acquisition of minority interests in competing companies. Also, the law requires all companies to notify the National Economic Prosecutor of mergers exceeding the operation’s maximum amount set by this authority for merger operations.
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