Concentration

TERA employs a rigorous methodology, complying with competition authority policies and jurisprudence:

• Defining relevant markets (product and geographic dimensions for distribution, networks, etc.) and defining safe harbour (identify stakeholder market share and concentration indexes,);
• Analysing unilateral or coordinated effects: relevant tests to measure competition effects (diversion ratio, UPP and Guppi tests), analyse the risk of a collective dominant position and concerted practices;
• Assessing horizontal, vertical and/or conglomerate effects: qualitative and quantitative evaluation of the deal’s impacts on players across the value chain;
• Studying efficiency gains and retrocession mechanisms to consumers;
• Identifying remedies to offset competitive risks without changing the deal’s economics.

TERA accompanies direct or indirect stakeholders in their interactions with authorities. Tera mobilises all required resources and tools: econometrics, cost modelling (including margins), marketing studies, etc.