Editorial Team, DWA
To our Spanish speaking readers, we recommend a post published in Lalibrecompetencia (which you can find here) by Guillermo Castro. He writes about one of the most interesting aspects in the analysis of merger cases in oligopolistic markets: the identification of maverick firms. Guillermo analyses a sequence of two decisions of the Salvadoran antitrust authority in which the merger between two of the largest telecommunication companies in the country was blocked, in large part because the acquired company was deemed to be a disruptive agent in the market. In the first attempt to merge, the two companies were required to divest a significant portion of the resulting firm’s spectrum holdings (which they refused to do) and in the second decision the transaction was enjoined. It is hard to miss the parallel between the Salvadoran case and the failed AT&T – T-Mobile attempt to merge just a year before. Surely the US case had some influence in the Salvadoran authority’s decision. In both cases, the resulting firm was going to become the biggest player in the market and both involved the acquisition of a firm that was deemed to be the maverick. Without further introduction, we invite our Spanish speaking audience to read Guillermo’s post in Lalibrecompetencia.