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ARTICLE · 08 AUGUST 2018

First Decisions Prohibiting Concentrations Issued In Bulgaria

Schoenherr (Schönherr Rechtsanwälte)
Schoenherr (Schönherr Rechtsanwälte)
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On 19 July, 2018 the Bulgarian Commission for the Protection of Competition (the "CPC") prohibited two concentrations.

BulgariaCorporate/Commercial Law
Galina Petkova
Galina Petkova
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On 19 July, 2018 the Bulgarian Commission for the Protection of Competition (the "CPC") prohibited two concentrations. The first being the sale of the second largest media conglomerate in Bulgaria, Nova Broadcasting Group AD ("Nova Broadcasting"), (owner of Nova TV), to PPF Bidco, (owned by Czech businessman Petr Kellner), and secondly the sale of CEZ's assets in Bulgaria, which include its energy distribution business, trade business and some small renewable energy parks to a Bulgarian company, Inercom, which maintains three solar power stations in the country.

Both decisions concern politically sensitive sectors (media and energy) and are currently largely criticised for their lack of valid economic arguments.

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