The Antitrust Review of the Americas 2009

Colombia: Overview of Antitrust Law

Article 333 of the National Constitution mandates the state to intervene in the economy by preventing practices such as unfair competition and anti-competitive conduct from taking place, in order to ensure that free and fair competition exists in the market. This document describes the Colombian antitrust regime, and highlights its most relevant characteristics. For ease of reference, we have divided this document into the following sections: merger control and anti-competitive practices. Colombian competition law subjects mergers and acquisitions to the prior non-objection of the Superintendence of Industry and Commerce (SIC), a governmental agency that acts as a competition authority. Depending on the activities carried out by the involved parties, other specialised agencies may have authority, as is the case, for instance, for the Superintendence of Finance for financial entities, the Aviation Authority for airline carriers and the National Television Commission for television concessionaires. The SIC is invested with administrative and jurisdictional powers. It acts as an administrative agency for purposes of merger control and anti-competitive behaviour proceedings, whereby it reviews proposed integration operations and the undertaking of actions in the market that may be contrary to free competition.

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