Bulgaria blocks Eurohold’s acquisition of ČEZ’s assets

Bulgaria’s Commission on Protection of Competition (CPC) has ruled that insurance and financial group Eurohold cannot acquire the Bulgarian assets of Czech energy group ČEZ.

The began an investigation into the takeover a month ago, concerned over the effects that the deal would have on both the insurance market and the electricity sector.

The CPC concluded that merging the experience, the economic resources and the market positions of the parties – in the electricity and insurance sectors – will lead to the creation or strengthening of a dominant position of the united group and will significantly impede the effective competition in the relevant markets.