LIME-FLOW merger needs further investigation - CARICOM’s Competition Commission
CARICOM’s Competition Commission says it has completed a preliminary assessment of Cable & Wireless’s acquisition of FLOW’s parent company and is of the view that further investigation is warranted.
The commission says it will now seek to complete the remaining steps under Article 176 of the Revised Treaty of Chaguarams to further progress the matter.
It says it will hold consultations with the Member States concerned to determine and agree on its jurisdiction to investigate the business transaction.
It says if the Member State does not agree it has jurisdiction, it will cease further examination and refer the matter to CARICOM’s Council for Trade and Economic Development.
Earlier this year, the Competition Commission said it had reason to believe that the acquisition has the potential to distort competition within CARICOM.
It said based on Article 176.1 of the Revised Treaty of Chaguaramas it is of the view that the deal could prejudice trade within the CARICOM Single Market and Economy with the possibility of cross-border effects.