CADE’s ruling on the concentration act involving banks HSBC and Bradesco raised a controversial issue within antitrust law in regards to what are the goals of this field of study, as well as the protected interests. In this case, a union of bank employees requested to be admitted as an interested third party in the case to defend protection of labor issues by CADE. During the trial session held on 06/08, the Reporting-Commissioner João Paulo Resende stated that the issues raised by the union are legitimate in light of those that would be affected by the transaction; however, maintaining/protecting jobs would not be an stricto sensu antitrust goal/concern. The Commissioner emphasized that the antitrust authority cannot reject a transaction based solely on this argument/premise, nor can the maintenance of jobs considered as a necessary condition for the transaction. In conclusion, CADE, while addressing a longstanding and controversial debate, stated that the antitrust authority is responsible for competition in the market.
2016/06/09
