This morning, Ecuadorian President, Rafael Correa announced the approval of the Bill for the Regulation and Control of the Market Power, known as ‘antitrust.’
“(…) Now we have an anti trust bill, that’s good news for the country. The U.S. has it over a hundred years ago, Chile has it for more than 50. Paraguay and Ecuador were the only ones outside of the list,” added the president.
Correa says the new bill will prevent abuses of local economic operators and restricts the business of bankers and media owners, which will provide a “change in the structure of power in the country and in the ownership structure.”
The law also restricts the business of bankers and media owners, to focus on one activity, (they can hold a maximum of 6% of the shares in the local media).