Brazil’s antitrust authority, Comisión Nacional de Defensa de la Competencia (CADE), has announced that it will consider a new interpretation of Brazil’s competition law that would change the merger notification thresholds. Under the current interpretation mergers must be notified to CADE when a company proposes to acquire a company that has a 20-percent share in any given market. The agency is contemplating the elimination of this filing requirement if the transaction would not further concentrate the market and if the companies’ combined annual revenues would not exceed 400 million Brazilian reals (approximately US$191 million).

CADE is expected to formalize the new interpretation by issuing a binding statement, which can occur only after it applies new interpretation in at least 10 cases.