Valdés Abascal Abogados SC

Valdés Abascal Abogados is primarily focused on competition and antitrust, standing out among the most experienced and specialized law firms in Mexico. The firm has long and deep experience in all kinds of matters and proceedings concerning competition and antitrust law, derived from more than 25 years of successful private and public practice.

Before the creation of the firm, founding partner Rafael Valdes Abascal served as the Executive Secretary of the former Federal Competition Commission, where he had under his authority the areas of legal affairs, investigations, merger control and economic studies. As he was appointed just two years after the creation of the commission, he played a key role in the definition of substantive and procedural provisions contained in the competition legal framework, as well as of the criteria used for its interpretation and application.

The firm has also participated in the process of the creation of the legal framework, as well as the in establishment of legal criteria in competition and antitrust, due to its participation in several of the most emblematic, sophisticated and relevant cases that have taken place in Mexico since the competition law came into force (and with a very high of success rate) before the competition administrative authorities (Federal Economic Competition Commission and the Federal Telecommunications Institute) and in trials before the Federal Courts, including the Supreme Court.

Aware of the dynamism of this specialty area, the practice is complemented with the continuous study of international experience and the various administrative and judicial precedents and criteria that are regularly generated.

The firm is headed by managing and founding partner, Rafael Valdés Abascal, and by Senior Partner, Enrique de la Peña Fajardo.

Valdés Abascal Abogados is a counselling and litigation boutique law firm, highly specialized in competition and antitrust law.

The firm has a strong academic background and long experience in constitutional, administrative and corporate law, with its members exercising their professional practice in both public and private sectors. Since 1996, the firm has successfully counselled and represented - especially in high profile, sophisticated and complex cases - Mexican and foreign companies which operate in a wide range of industries including telecommunications, television, radio, ports, airports, railways, energy and other regulated sectors, as well as the retail stores market and many other goods and services markets. Most of its clients are ranked among the top three in their respective industries. The firm has also counselled public institutions in legislative projects for deregulation, privatizations and industrial reorganizations.

Competition / Antitrust

The firm's department is best known for its specialization in all branches of antitrust (i.e. cartels, abuse of dominance, merger control, compliance programs, risk assessment, etc.) in Mexico; and for its experience derived from more than 25 years of practice.

Valdés Abascal Abogados has always been involved in high profile cases, both administrative (before the Federal Economic Competition Commission and the Federal Telecommunications Institute) and judicial (before federal courts, including the Supreme Court).

Also. the firm has been involved in competition cases in a wide diversity of industries such as: adhesives, airports, automobile, auto parts, body care, bottling, brewery, television broadcasting, chemical, credit information and credit bureau services, consumer product manufacturing, container liner shipping, convenience store, credit cards and other payment means, farming, financial services, forestry and wood, infant formula, insurance, land transportation (passenger and cargo), latex products, life sciences, magnet wire, natural gas transportation and distribution, petrochemical, pharmaceutical, ports, premium spirits, processed foods, radio broadcasting, railroad, restaurant, retail store, seismic data acquisition and commercialization, software development, steel, sugar, telecommunications, tires, tobacco, among others.

The most important recent case was the Elektrisola / Rea Magnet Wire merger control procedure. In 2017, Rea Magnet Wire and Xignus notified their intention of implementing a JV but it was blocked by COFECE. In such case, the relevant market was defined as all types of magnet wire. To obtain an unconditional approval, the firm managed to overturn this precedent by defining two relevant markets: heavy magnet wire and fine magnet wire.

Another important recent case was the Grupo Transportes Monterrey and Transportes Larmex merger control procedure. This transaction represented the merger of agents number 1 and 9 in the ground transportation market and, after a detailed review of the case, an unconditional clearance was obtained under a no barriers to competition argument.

The firm also represented Afore XXI Banorte before the Federal Courts in a trial in which the amount of a fine imposed by COFECE was contested. This case represented the highest fine since the creation of COFECE in 2013 and 4 agents in total were fined for cartel conduct in the retirement funds market. Our firm achieved a 92 million pesos reduction on the fine that was originally imposed.

• Competition / Antitrust - Mexico City
• Telecommunications - Mexico City

Prado Norte 225

Lomas de Chapultepec

11000 Mexico City, Mexico

Tel: +52 (55) 5950 1580

www.vaasc.com