The European Commission ruled on Monday 21 February that Hungary’s decision to oppose the acquisition of AEGON Group’s Hungarian subsidiaries by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) breached Article 21 of the EU Merger Regulation, which gives the Commission exclusive competence for mergers with a European dimension.
Prior to the Commission’s clearance, the Hungarian authorities opposed VIG’s acquisition of AEGON Group’s Hungarian subsidiaries on the basis of...