OREANDA-NEWS. October 21, 2010. Stats-Secretary Andrey Tsarikovsky, Deputy Head of FAS Russia, took part in the VII annual conference “Mergers and Acquisitions” organized by the “Vedomosti” newspaper, reported the press-centre of FAS Russia.

Speaking at the conference, Andrey Tsarikovsky told about requirements of the Federal Antimonopoly Service (FAS Russia) to such transactions and recent novelties and expected changes to antimonopoly law. Mr. Tsarikovsky presented to the conference projective procedures for liberalization of government control in the field of capital concentration. “FAS Russia should move away from micromanagement and concentrate on the largest transactions, which have significant impact upon the economy”, emphasized Deputy Head of FAS Russia.

“Every year the number of refusals to grant petition is decreasing. This positive trend is driven by increasing law knowledge in the field of antimonopoly regulation”, stated Mr. Tsarikovsky. Deputy Head of FAS Russia paid special attention to the issue of defining the range of persons – members of the same group, and associated problems.

The “second antimonopoly package” was adopted in 2009. It has significantly improved the antimonopoly law related to mergers between economic entities. The “second antimonopoly package” provides for a possibility to recognize dominant market position if the company’s share does not exceed 35 %.

Currently the “third antimonopoly package” is being prepared, which will liberalize some antimonopoly standards, including vertical agreements. “The programme of liberalization will “enable faster implementation of merger and acquisition projects in the industry sector, although it will not create economic conditions encouraging such transactions” said Mr. Tsarikovsky.

Deputy Head of FAS Russia also shared “revolutionary” plans on abolishing transaction notification procedures and introducing corrections and clarifications to Clause 2 Article 3 of the Federal Law “On Protection of Competition” (applying antimonopoly law to actions of persons outside the Russian Federation and affecting competition in Russia). In particular, it is proposed to clearly define the range of transactions by foreign companies subject to approval by the antimonopoly authority, based on the criterion of the sales volume in the Russian Federation. Mr. Tsarikovsky added that in the near future it will be possible to forward petitions about mergers and acquisitions to the antimonopoly bodies by e-mail.

Participants acknowledged importance of FAS Russia’s initiatives, outlining that in today’s difficult conditions reduction of administrative barriers should be combined with effective control over compliance with the law and protection of competition.