Investigation Regarding Economic Competition in the Market for the Commercialization of Classified Real Estate Listings
Mexico's competition watchdog, the Federal Economic Competition Commission (“COFECE”), today, October 10, made public the commencement of the investigation into the market for the commercialization of classified real estate listings (the “Investigated Market”) for the possible carrying out of an unlawful concentration.
This investigation formally began on August 23, 2023, and in it COFECE will investigate whether companies carried out a merger, acquisition of control, or any act by virtue of which corporations, associations, shares, equity interests, trusts, or assets in general are combined with the purpose or effect of hindering, diminishing, harming, or impeding free market access or economic competition in the Investigated Market. As a result of the investigation, COFECE could order the correction, suspension, or partial or total deconcentration of the unlawful concentration. It could even impose fines of up to the equivalent of 8% of the income of the participants in the unlawful concentration, as well as a fine of 5 thousand units of measurement and update (UMA) or the equivalent of 5% of the income of the companies involved, in the event that such unlawful concentration should have been subject to COFECE's scrutiny for its prior authorization. For additional information, please contact: Fernando Carreño, Partner:+52 (55) 5258-1042 | fcarreno@vwys.com.mx Sergio López, Partner:+52 (55) 5258-1042 | slopez@vwys.com.mx

