According to experts, the agency's response to the request for the concentration of PJSC Motor Sich shares expressly confirms that the AMCU is artificially delaying the approval of the deal, possibly under pressure from outside.
The AMCU (the Antimonopoly Committee of Ukraine) did not accept the application of the DCH group for the purchase of PJSC Motor Sich shares for consideration. The DCH Press Service posted information about it on the official website. According to experts, the agency's response to the request for the concentration of PJSC Motor Sich shares expressly confirms that the AMCU is artificially delaying the approval of the deal, possibly under pressure from outside. Aleksandr Okhrimenko, President of the Ukrainian Analytical Centre, drew attention to the fact that the AMCU, having returned the package of documents, requests additional data on the possibility of concentration in the financial markets due to the fact that DCH and Motor Sich control subsidiary companies in the segment: Motor-Diller Firm Securities Market Operator (controlled by Motor Sich), DCH has Development Construction Holding, Heritage Investment Management Asset Management Company and Credit Dnipro Bank. ‘It would not hurt analysts from the AMCU to improve their math skills since the companies they named operate in different segments of the financial markets. There is no sign of the possibility of monopolization here, hundreds of operators work in each of the segments! In addition, there are three specialized state regulator – the National Bank, the National Financial Services Commission and the National Commission for Securities and Stock Market. The three financial regulators authorities have no questions to the companies! It seems that the AMCU imagines itself as a structure with some unique competencies that exceed the expertise of three financial regulators combined,’ Mr Okhrimenko joked in response to a request to comment on the AMCU’s letter. The analyst added that recently the antimonopoly department agreed to DCH's purchase of Credit Dnipro Bank, therefore the AMCU should understand the structure of financial markets, as well as the fact that the concentration of Motor Sich’s shares does not affect the balance of power in the financial markets. ‘Attempts to “take a look” into the financial segment of DCH's or Motor Sich's business is no good at all. Even ridiculous. The Antimonopoly Committee recently issued an approval for the purchase of DCH from Credit Dnipro Bank, and now it requires additional information?! The AMCU studied everything, but relatively speaking, “the ink did not even dry out” on that concentration permit,’ the expert commented. Mr Okhrimenko, in general, was very skeptical about the AMCU's activities in the field of control over the prevention of monopolization: ‘Based on the recent scandals, the main competence of the AMCU is to search for nonexistent black cats in dark rooms, and to demonstrate its importance when we have a complete mess in truly monopoly sectors, from which both business and ordinary Ukrainians suffer! ‘Does the AMCU have the courage to “take a look” there? As it is known, China's Beijing Skyrizon and DCH submitted an application to the Antimonopoly Committee of Ukraine (AMCU) on August 4 with a request to allow the concentration of Motor Sich’s shares. Beijing Xinwei Technology Group, the parent Chinese company, said, ‘The change in new cooperation partners will not entail significant changes in the further reorganization. Beijing Skyrizon hopes that this change will push for the prompt receipt of AMCU approval, to facilitate the early completion of the large restructuring of domestic assets,’ the document states.
