COMCO, Switzerland’s equivalent of Britain’s Competition and Markets Authority, has confirmed it is looking into the acquisition of Bucherer by Rolex.
Rolex said yesterday that the deal would be subject to approval by regulators and that Bucherer will continue to trade under its own name and operate independently.
In response to questions put to COMCO by WatchPro this morning, the regulator confirmed: “COMCO will analyze the proposed concentration, as it does for all concentrations in which the turnover thresholds for notification of the proposed concentration are exceeded.”
COMCO’s rules under the Swiss Cartel Act say that it will investigate if two entities have a combined turnover of at least CHF 2 billion or a turnover in Switzerland of at least CHF 500 million.
COMCO also says it will examine “whether the proposed concentration creates or strengthens a dominant position that may eliminate effective competition”.
Again, from the Cartel Act, COMCO might intervene if an acquisition or merger creates or strengthens a dominant position liable to eliminate effective competition and does not improve the conditions of competition in another market such that the harmful effects of the dominant position can be outweighed.
