Inercom Complains over Ban on Acquisition of CEZ Assets in Bulgaria

Inercom Complains over Ban on Acquisition of CEZ Assets in Bulgaria

Sofia-based Inercom said on Monday it has filed a complaint with the Supreme Administrative Court against the decision of the local competition authority to ban the sale of the assets of Czech energy group CEZ in Bulgaria to the company."We have [...] analyzed in detail the reasons for the negative decision of the anti-monopoly authority. We expect a quick and fair decision on the part of the Supreme Administrative Court," Milena Stoeva, chairman of the board of directors of Inercom Bulgaria, said in a statement. On July 19, the Commission for Protection of Competition said it has banned the sale of the assets of CEZ in Bulgaria to Inercom. According to the regulator's analysis, the deal will lead to the establishing of a dominant position, affecting competition. The transaction is of strategic importance for the country and its potential effects would have direct implications for the national security, due to the the wide range of activities of the companies being acquired and their importance to the Bulgarian electricity system, the regulator explained.

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