{"id":564645,"date":"2021-02-17T14:02:32","date_gmt":"2021-02-17T14:02:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/the-eca-is-getting-muscled-up-but-do-we-even-agree-on-what-antitrust-means\/"},"modified":"2021-02-17T14:02:32","modified_gmt":"2021-02-17T14:02:32","slug":"the-eca-is-getting-muscled-up-but-do-we-even-agree-on-what-antitrust-means","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/the-eca-is-getting-muscled-up-but-do-we-even-agree-on-what-antitrust-means\/","title":{"rendered":"The ECA is getting muscled up, but do we even agree on what \u201cantitrust\u201d means?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The Egyptian Competition Authority could soon see itself muscled up<\/strong> after Rep. Ahmed Samir said yesterday his House Economics Committee had given preliminary approval to amendments to the Competition Act (law 3\/2005) that would give the ECA the power to reject mergers and acquisitions, <a href=\"https:\/\/bit.ly\/37kXNIW\">Youm7<\/a> reports. The amendments would require companies to notify the ECA that they plan to merge or undertake an acquisition and would give ECA the power to approve or reject the transaction.<\/p>\n<p><strong>Samir said the amendments could also change the definition of \u201ceconomic <\/strong><strong>concentration,\u201d<\/strong> a key principle in evaluating the potential market impact of a transaction.<\/p>\n<p><strong>How it works today:<\/strong> The ECA can raise red flags, but only after a transaction is concluded. Successive antitrust bosses have sought the power to approve or reject M&As.<\/p>\n<p><strong>As always, the devil is in the details. <\/strong>US law, for example, gives the Federal Trade Commission and the Justice Department <a href=\"https:\/\/www.ftc.gov\/news-events\/media-resources\/mergers-and-competition\/merger-review\">the right to review any merger worth at more than USD 94 mn<\/a>. Companies need to report transactions over that threshold, and most get the green light after a preliminary review of 30 days or less. But US law provides clear avenues for appeal \u2014 and the bureaucracy is run by staff with deep expertise in the topic. Remedies for businesses that run afoul of the Justice Department or FTC are also clear: The investigating body can move into settlement talks to find a way forward, or take action in federal district court to block the transaction.<\/p>\n<p><strong>What\u2019s more, there needs to be an agreement on the bad corporate behaviour we\u2019re <\/strong><strong>trying to prevent. Is it the unfair quashing of <\/strong><strong>competitors? Or the fleecing of customers? <\/strong>US antitrust law, thanks to Robert Bork, <a href=\"https:\/\/repository.law.umich.edu\/cgi\/viewcontent.cgi?article=2549&context=articles#:~:text=Of%20all%20Robert%20Bork's%2520many,objective%2520of%2520U.S.%2520antitrust%2520law.%26text%3DSonotone%2520that%2520%25E2%2580%259CCongress%2520designed%2520the,as%2520a%2520'consumer%2520welfare%2520prescription.\">defines antitrust law largely in terms of consumer welfare<\/a> \u2014 which is entirely different from whether fair competition for another corporation is being stifled. Amazon, for example, does plenty of things that critics argue exploit is market position to stifle other companies (including using its trove of data to figure out what\u2019s selling well, then have it made by a contract manufacturer and undercutting an established brand. Those same practices aren\u2019t generally seen as narrowly anti-consumer, because it results in lower shelf prices. Dive deeper with <a href=\"https:\/\/www.yalelawjournal.org\/article\/amazons-antitrust-paradox\">Lina Khan\u2019s seminal Amazon's Antitrust Paradox in the Yale Law Journal<\/a> or read \/ listen to her interview with <a href=\"https:\/\/www.theverge.com\/2019\/2\/5\/18212213\/amazons-facebook-break-up-antitrust-paradox-lina-kahn-vergecast\">The Verge\u2019s Nilay Patel<\/a> (himself a journalist turned lawyer).<\/p>\n<p><strong>The keys to making this work here in Egypt? <\/strong>The business community will want some reassurance that the head of the ECA is both pro-free market and pro-consumer \u2014 and that speedy remedies will be available in the event the ECA takes issue with a transaction and the parties to it want to mount an appeal.<\/p>\n<p><strong>In this respect, committee-level approval of the amendments is just the first step. <\/strong>What this ultimately means to a business community increasingly enamored of growing through acquisition won\u2019t be clear until the executive regulations are handed down, until we agree on what we\u2019re trying to prevent (companies being quashed \u2014 or consumers being harmed) \u2014 and until we know who will be interpreting them.<\/p>\n<p><strong>Want to dive deeper? There\u2019s no better starting place than Planet Money<\/strong>\u2019s <a href=\"https:\/\/www.npr.org\/sections\/money\/2019\/03\/20\/704426033\/antitrust-in-america\">three-episode<\/a><a href=\"https:\/\/www.npr.org\/sections\/money\/2019\/03\/20\/704426033\/antitrust-in-america\">podcast arc<\/a>, tracing antitrust law in the US of A from Ida Tarbell\u2019s takedown of Standard Oil to the brewing showdown with Big Tech via Mr. Bork.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian Competition Authority could soon see itself muscled up after Rep. Ahmed Samir said yesterday his House Economics Committee had given preliminary approval to amendments to the Competition Act (law 3\/2005) that would give the ECA the power to reject mergers and acquisitions, Youm7 reports. The amendments would require companies to notify the ECA [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":564646,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10067],"tags":[2383,549,633,4167],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-parting-shot","tag-antitrust","tag-egyptian-competition-authority","tag-enterprisepm","tag-parting-shot","wpautop","entry"],"acf":{"mongo_id":"3582805e-b867-4076-9e5e-bff71e01f886","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/475.jpg","photo_position":"above","related_issue":[564630],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The ECA is getting muscled up, but do we even agree on what \u201cantitrust\u201d means? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/the-eca-is-getting-muscled-up-but-do-we-even-agree-on-what-antitrust-means\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The ECA is getting muscled up, but do we even agree on what \u201cantitrust\u201d means?\" \/>\n<meta property=\"og:description\" content=\"The Egyptian Competition Authority could soon see itself muscled up after Rep. 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The amendments, which have been up in the air since last year, will regulate mergers and acquisitions and place\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/HouseofReps-1600px-fx-e1606665898323.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556292,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/19\/eca-poking-into-mas-again\/","url_meta":{"origin":564645,"position":1},"title":"ECA poking into M&#038;As again","author":"enterpriseam admin","date":"19 October 2021","format":false,"excerpt":"The Egyptian Competition Authority (ECA) is not happy that a number of mergers and acquisitions that have taken place without it being notified. In a statement yesterday, the competition watchdog warned businesses making EGP 100 mn in annual revenues that they must inform the ECA of M&A activity within 30\u2026","rel":"","context":"In &quot;COMPETITION WATCH&quot;","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/203.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577849,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/competition-act-amendments-pass-the-house\/","url_meta":{"origin":564645,"position":2},"title":"Competition Act amendments pass the House","author":"enterpriseam admin","date":"7 December 2022","format":false,"excerpt":"MPs give their final approval to Competition Act amendments: The House of Representatives yesterday voted to pass amendments to the 2005 Competition Act following two days of debate. The amendments \u2014 which got initial signoff from the chamber on Monday \u2014 grant the Egyptian Competition Authority (ECA) the power to\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/125.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558929,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/03\/chg-alameda-merger-faces-antitrust-headwinds\/","url_meta":{"origin":564645,"position":3},"title":"CHG-Alameda merger faces antitrust headwinds","author":"enterpriseam admin","date":"3 January 2021","format":false,"excerpt":"Is the healthcare industry\u2019s mega-merger facing a regulatory hurdle? Cleopatra Hospital Group\u2019s (CHG) acquisition of 100% of Alameda Healthcare Group has not received the Egyptian Competition Authority\u2019s (ECA) blessing, which said in a statement (pdf) last week that its preliminary decision is to not approve the merger. CHG had announced\u2026","rel":"","context":"In &quot;COMPETITION WATCH&quot;","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/8.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559803,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/i-have-the-power\/","url_meta":{"origin":564645,"position":4},"title":"I have the power","author":"enterpriseam admin","date":"4 February 2021","format":false,"excerpt":"The Egyptian Competition Authority (ECA) is waiting on the House of Representatives to sign off on proposed amendments to the Antitrust Act this year to be able to properly fulfill its role as a regulator, the authority\u2019s newly-appointed chairman Mahmoud Momtaz said at a presser yesterday, according to the local\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/84.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599791,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/cabinet-approves-proposed-amendments-to-egypts-competition-act\/","url_meta":{"origin":564645,"position":5},"title":"Cabinet approves proposed amendments to Egypt\u2019s Competition Act","author":"enterpriseam admin","date":"10 January 2019","format":false,"excerpt":"CABINET WATCH- The Madbouly Cabinet approved yesterday proposed amendments to the Competition Act (or Antitrust Act) that are meant to increase regulation against monopolistic practices and help protect competition in Egypt, according to a statement. The amendments would ban collusion in any form between competitors in any industry \u2014 including\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564645"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564645\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564646"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564645"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564645"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}