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the possibility of modifying their commitments in case of an
extraordinary situation such as a modification in the conditions of
the market. In this way, the Board, in lieu of directly rejecting the
operation, will re-analyze the operation of concentration within
the revised commitments.
• In order for the Board to realize a correct analysis and to give
a decision profitable for the economy, it is necessary to mention
that documents and information provided by the parties must be
accurate. As a matter of fact, the information and documents to be
provided by the parties represent the keystone of the commitment
and conditional authorization institution.
• A determined period of time must be provided for the
implementation of the commitments. Otherwise, the commitment
may be implemented in a longer time which will cause a result
contrary to the expected result.
Kinds of Commitments
The different kinds of commitments will be analyzed in detail in our
next Newsletter. However, general basic information may be given this
month on the different kinds of commitments.
The Guidelines Project, in the same way as the Notice, states that
commitments may be structural and behavioural. Structural commitments
mean commitments which cause a modification in the structure of the
undertaking such as a divestiture. This kind of commitment necessitates
short-term control because it may be implemented instantly. As for
behavioural commitments, they are related to the future market behaviour
of the parties. These commitments, contrary to structural commitments,
necessitate long-term control because they may be implemented within a
long period a time.
Although the Guidelines Project states that both structural and
behavioural commitments may be submitted, it stipulates that behavioural
commitments may be implemented
de facto
in the absence of a structural
commitment. As per the Guidelines Project, behavioural commitments
may be accepted if they may reach an efficiency level comparable to a