Resolution No. 48/2024 of the Secretariat of Commerce: Antitrust Mobile Unit – 2024 updated value.
Competition & Antitrust Department Report | Resolution No. 48/2024 of the Secretariat of Commerce: Antitrust Mobile Unit – 2024 updated value
Dear Sir or Madam,
Resolution No. 48/2024 of the Secretariat of Commerce (the “Resolution”), published today in the Official Gazette, updated the value of the Mobile Unit [1] for 2024 to AR$506.19.
The Mobile Unit is used as a reference unit in the Argentine Antitrust Act No. 27,442 (“AAA”) and the Fair Trade Act passed by Decree of Need and Urgency No. 274/2019.
The update of the value of the Mobile Unit has the following impact on the above-mentioned regulations:
1. Antitrust
• Increase of thresholds that trigger merger control: (a) the Argentine turnover of the acquiring group plus the Argentine turnover of the target during the previous fiscal year must be now equal to – or more than- AR$50,619,000,000 [2]; AND (b) the price of the transaction OR the value of the Argentine assets must be now equal to -or more than- AR$10,123,800,000 [3] or AR$30,371,400,000 [4] in the last 36 months in the same markets.
• The upper limit for the penalty for infringements to the AAA that the authority is entitled to set when none of the other estimation methods provided in the AAA are applicable is now AR$101,238,000,000 [5].
• Increase to AR$379,642,500 the upper limit of the daily fine [6] for late filing and for breaching an order of cessation of anticompetitive behavior or a behavioral commitment that the authority is entitled to set when none of the other estimation methods provided in the AAA are applicable.
• Increase to AR$253,095 the daily fine [7] for obstructing or hindering any investigation or failing to comply with the requirements of the antitrust authority in the time and manner required.
• Increase the range of the filing fee in the filing for merger control proceedings that may be established by the Antitrust authority to between AR$2,530,950 and AR$10,123,800 [8].
2. Fair Trade
Raises the maximum amount of the penalty of a fine to AR$5,061,900,000 [9].
Notes:
[1] The value of the Mobile Unit shall be updated yearly considering the variation of the Consumer Price Index.
[2] 100 million Mobile Units.
[3] 20 million Mobile Units.
[4] 60 million Mobile Units.
[5] 200 million Mobile Units.
[6] 750 thousand Mobile Units.
[7] 500 Mobile Units.
[8] 5 thousand Mobile Units to 20 thousand Mobile Units.
[9] 10 million Mobile Units.
Should you require any further information on this matter, please do not hesitate to contact us.
Sincerely,
Agustín Waisman
Tomás López Bisso