OREANDA-NEWS. July 17, 2012. The Federal Antimonopoly Service (FAS Russia) approved the petition about merger of Moscow Integrated Energy Company (MOEK) and Moscow Heating Network Company (MTK), reported the press-centre of FAS Russia.

Under the Federal Law “On Protection of Competition”, the transaction takes place within the same group of person and is subject to FAS consideration by giving a notice and does not require preliminary approval by the antimonopoly body.

Under the Law “On Natural Monopolies”, the company must petition to FAS Russia, which the company did on 11th July 2012.

“I am convinced that this norm of the Law “On Natural Monopolies” is an anachronism that we plan to abolish legislatively. FAS considers and will consider such transactions in as short time as possible, preferably – within one day”, stated the Head of FAS, Igor Artemyev.

“It once again shows that the Law “On Natural Monopolies” must be abolished since it imposed unnecessary additional limitations on business”, explained Mr. Artemyev.

The Head of FAS also pointed out that the Antimonopoly Service knew about the transaction parameters because the transactions had been prepared for over two years, and FAS was working in this area together with the Moscow Government.

To remove excessive bureaucratic barriers, FAS has devised a draft law to abolish notifications that companies must forward to FAS Russia under the Federal Law “On Protection of Competition”. Earlier the antimonopoly body tried to implement this initiative under the “third antimonopoly package” of laws.