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Interlocking Directorates

Interlocking is a link between two competing companies, which occurs when they share – directly or indirectly – people in their relevant executive positions or in their directorate.

Its most direct form, this is, when the same person exercises such positions in two competing companies, is expressly prohibited by article 3 letter d) of DL 211, as long as the sales thresholds established in the same article are met.

The foregoing, notwithstanding those indirect forms of interlocking, or cases in which these thresholds are not exceeded, may be subject to review regarding their risks or effects on competition, following article 3, paragraph 1 of the same decree.

Minority Interests and Common Directors among Competitive Companies (Guidelines in Spanish)