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Common Ownership – A Primer and Practical Framework for Assessment

Kilpailuoikeudellinen vuosikirja 2020 s. 91–117
4.5.2022
Asiantuntija-artikkeli

With the strengthening roles of institutional investors and investment management companies in shaping corporations, questions surrounding the potential anti-competitive effects stemming from increased common ownership have come into the limelight in the past years. Competition authorities have also become more interested in understanding the potential anti-competitive impact of these less-direct methods of influence and control. There are likely also some grounds for this, as some recent economic studies have found that common ownership is likely to reduce competition between the commonly owned competitors.

The purpose of this article is to contextualise some of the current legal and economic understanding of the anti-competitive effects potentially stemming from common ownership in addition to providing a framework for identifying and assessing the circumstances under which common ownership may lead to anti-competitive outcomes. While there does not appear to be any conclusive evidence as to the effects on antitrust from common ownership, the concerns are significant enough to warrant further investigation. One of the purposes of this article is to outline the competition concerns arising from common ownership that have been brought forward in both economic studies and academic legal work.

(Edilex-toimitus)

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