In 2023, there was a 50% increase in the willingness of businesses to merge compared to 2022. Altogether, the Competition Council received 21 merger notifications and assessed 24 mergers, including three that were announced in 2022. In all cases, the Competition Council took a decision to allow the merger. The number of decisions adopted has increased by 70% compared to 2022.
The highest desire to merger was identified at the end of 2023, when the Competition Council took ten decisions to allow the mergers. 38% of all decisions adopted in 2023 were related to mergers between competitors or companies in horizontal relationships. A third of all decisions concerned companies with no horizontal or vertical links. Similarly, one in five mergers was between companies in vertical relationships, i.e., companies operating at different levels of the supply chain.
In 2023, mergers took place in various sectors, affecting a total of 47 markets, such as wholesale and retail, financial, office equipment, plastics and electronics, freight transport, healthcare, electricity and heat, automotive and spare parts, electrical appliance repair and other markets. The number of affected markets has increased by 75% compared to 2022.
In 2023, 21 merger cases were concluded in the first phase, while three cases were subject to in-depth analysis or Phase II mergers. The average duration of analysis was 23 days for Phase I mergers and 121 days for Phase II mergers.
Artūrs Kuka, Head of the Economic Analysis and Mergers unit of the Competition Council: “2023 has been a year rich in both merger notifications and consultations, with significantly more market impact overall than in 2022. Despite the significant increase in merger notifications, the Competition Council has been able to deal with non-problematic mergers on average one week faster than the statutory deadline of one month. This not only enables market participants to conclude mergers more quickly and continue to develop their business without delay, but also allows the Competition Council to focus its limited resources on more complex cases that require further analysis.”
In order to ensure a better and faster analysis, the Competition Council provides consultations to the companies before submitting its report. In 2023, companies or their legal representatives were consulted in 58% of merger cases, with a total of 236 hours of consultation. Compared to 2022, the intensity of consultations has increased by 321%.