Impact evaluation of merger decisions: lessons from the Greek experience

Abstract

During the last decade, the importance of a thorough and coherent ex-post merger review by competition authorities and courts has been increasing. Although it is widely acknowledged that addressing the competition concerns, which stem from consummated mergers, is a costly and time-consuming process, and that remedies (e.g. either structural or behavioural), when adopted, are often imperfect at best, sophisticated quantitative techniques are now available for competition agencies, attorneys and courts to help them assess the impact of a merger and the efficacy of related enforcement decisions, thus leading to improved decision-making. This article aims to cast light on the role of economic analysis in the merger case decisions. For this reason, I focus on the main quantitative techniques used in merger analysis in the Greek jurisdiction. In this way, I try to offer some suggestions to other competition agencies derived from the Hellenic Competition Commission experiences in assessing selected merger cases. Finally, I also delve into discussions of Greek competition law matters, as an example of emerging merger regime model, with respect to certain aspects of the European Union Merger Regulation.