The Hellenic Competition Commission, in plenary, decided to prioritize and assign to a Commissioner-Rapporteur, pursuant to Article 15 of Law 3959/2011 (the “Competition Act”), the in-depth investigation of a case concerning the possible breach of the obligation of an undertaking to notify the de facto acquisition of sole control and its relevant obligation to suspend the implementation of the transactionin the wider financial sector and the sector for portfolio investments.

The assignment of a case to a Rapporteur triggers the time limits of Article 15 par. 4 and 5 of Law 3959/2011 for the adoption of a decision.  However, it does not prejudge the content of the Statement of Objections or the HCC’s Decision. The statutory time limit is indicative, as the duration of the antitrust investigation depends, inter alia, on its complexity, the size of the case file as well as the number and degree of cooperation of the undertakings involved.

The case concerns a possible violation of the provisions of article 6 (4), in conjunction with articles 6 (1 and 2), on the obligation to notify concentrations, Article 9 (1), on the related obligation to suspend the implementation of a concentration and Article 38 (3) of Law 3959/2011 on the possible provision of incomplete or misleading information. The case does not concern the investigation into any violation of the provisions of Articles 1 and 2 of Law 3959/2011 and/or Articles 101 and 102 TFEU