Interlocking and minority interests in Chilean competition law

Abstract

Interlocking and minority shareholdings are links between companies that, at times, could involve antitrust risks (unilateral or coordinated) and which, until 2016, were not expressly regulated in Chile despite the fact that they could be equally sanctioned given the markedly general typification of restrictive practices. In fact, interlocking is not a commonly regulated figure in the various legal systems worldwide.
In this article, the author develops, in a schematic way, interlocking and minority participations; with the purpose of giving a general framework of these figures in relation to their current situation in the Chilean legislation. Likewise, the author explains the different types of interlocking comprehended, the possible anticompetitive effects of this figure, its mitigation measures, its evolution in the comparative law and the passive subjects of its infraction.