Portuguese Merger Control – Foreign Joint Ventures and Local Nexus

Philipp Melcher, Beatriz Lopes da Silva and Joana Fraga Nunes have authored the article “Portuguese Merger Control – Foreign Joint Ventures and Local Nexus”, published in ThoughtLeaders4 Competition Magazine (Issue 12, February 2026).

In the article, the authors analyse three recent decisions of the Portuguese Competition Authority concerning the mandatory notification of foreign joint ventures with no activity in Portugal. Despite the absence of any presence or competitive impact in the national market, the Authority considered the domestic turnover threshold to be met based on the activities of the parent companies in Portugal.

Our lawyers question this interpretation, as it departs from international recommendations regarding the material nexus criterion and imposes unnecessary costs and burdens on companies. They advocate for a more restrictive reading of the regime or a revision of the applicable framework, while recommending compliance with the current practice until it is amended.

Please find the full article attached below.