Concentrations between previously independent undertakings consist of:
- the merger of previously independent undertakings;
- the acquisition of control, directly or indirectly, over the whole or parts of other undertakings;
- the creation of a joint venture performing on a lasting basis all the functions of an autonomous economic entity.
The obligation to notify lies with the parties to the concentration (Article 6(1) of Law 3959/2011, as in force-available in Greek), where the relevant turnover thresholds are met, namely:
- worldwide aggregate turnover of at least EUR 150 million;
- in the Greek market, at least two of the undertakings concerned each achieve a total turnover exceeding EUR 15 million.
Undertakings are required to notify EETT in advance of any planned concentration. As the competent competition authority, EETT carries out ex ante control (Articles 5–10 of Law 3959/2011-available in Greek), aimed at preventing operations that may significantly impede effective competition in the national market or in a substantial part thereof, in particular through the creation or strengthening of a dominant position.
EETT evaluates the effects of each concentration by assessing market conditions before and after the transaction and issues a decision either clearing the concentration, with or without commitments, or prohibiting it.
Notifications must be submitted by the undertakings concerned, or groups of persons/undertakings as defined in Article 6(3) of Law 3959/2011 (as in force), within the statutory deadlines. Failure to notify a concentration, implementation of a concentration in breach of a suspension obligation, or breach of conditions attached to a prior decision, is subject to administrative sanctions (Articles 8 and 9 of Law 3959/2011-available in Greek).