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Article: Swiss Competition Report - 1st Quarter 2006.(Swiss Federal Competition Commission clears acquisition of AZM Aargauer Zentralmolkerei AG by Emmi AG)(FCC investigates agreements on air freight surcharges)(FCC investigates five Swiss electricity companies)
- Article from:
- Mondaq Business Briefing
- Article date:
- May 9, 2006
CopyrightCOPYRIGHT 2006 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Merger Control
Failing Company Defence
In a decision dated March 6 2006, the FCC cleared the acquisition of AZM Aargauer Zentralmolkerei AG (AZM) by Emmi AG (Emmi). The FCC concluded that the merger created a dominant position of Emmi on the Swiss markets for milk, alimentary cream and butter, but cleared the acquisition on the basis of the Failing Company Defence. Without the acquisition, AZM would have disappeared and Emmi would have gained AZM's market shares. Indeed, the relevant markets are still regulated by the Swiss state and therefore they are closed to foreign competitors. The FCC concluded that only the opening of the Swiss market to European ...