We are pleased that Anastasios A. Antoniou, Ifigenia Iacovou, and Orestis Anastasiades have authored the Cyprus chapter to the recently published Lexology Panoramic: Merger Control 2026 guide.
This comprehensive publication provides practitioners and businesses with an up-to-date, practical overview of the merger control regime in Cyprus. As the regulatory landscape continues to evolve, our chapter offers critical insights into the enforcement practices of the Commission for the Protection of Competition (CPC) and the statutory requirements under Cypriot law.
The chapter provides a detailed analysis of the Control of Concentrations Between Undertakings Law 83(1) of 2014. It also outlines the overarching enforcement and investigative roles of the CPC and its civil service.
Jurisdictional thresholds: The guide offers clarity on the mandatory filing system. It details the specific financial thresholds that trigger a notification, noting that at least two of the undertakings concerned must achieve more than €3.5 million in worldwide turnover respectively. Additionally, at least two of the undertakings must achieve turnover in Cyprus, with an aggregate Cypriot turnover of at least €3.5 million.
Notification and clearance timetables: We outline the procedural timeline, explaining that while there is no strict filing deadline, transactions cannot be implemented prior to CPC clearance. We also detail the timelines for Phase I (one month, with a possible 14-day extension) and Phase II (four months) investigations.
Penalties and “gun jumping”: The chapter highlights the severe consequences of implementing a transaction before clearance. The CPC may impose fines of up to 10 per cent of the total turnover of the notifying undertakings, alongside daily fines of €8,000, and possesses the power to order the dissolution of the concentration.
Substantive assessment: We explore the substantive test applied by the CPC to determine a concentration’s compatibility with the competitive market. This includes evaluating market structure, economic power, barriers to entry, and whether the transaction creates or strengthens a dominant position. Recent
Enforcement trends: Because of the low turnover-based thresholds, a considerable number of transactions notified in Cyprus are foreign-to-foreign mergers. The guide also reviews recent key cases, such as the Phase II assessment and subsequent unconditional clearance of Eurobank’s acquisition of control over Hellenic Bank.
To explore the full details of the Cyprus merger control landscape, read our complete chapter in Lexology Panoramic: Merger Control 2026:
For tailored advice regarding merger notifications or competition law in Cyprus, please contact our competition practice.