The acquisition of minority shareholding has been subject of analysis by the Brazilian antitrust authorities recently. Transactions involving this kind of acquisition can generate effects that may impact competition in a relevant market, such as: (i) unilateral effects regarding the reduced incentive to compete, due to the interest of one competitor on the profits of its rival and (ii) coordinated effects in connection with the possibility of collusion, by the influence of one competitor over the decisions of the other and exchange of information.

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