Sonangol and TOTAL seek creation of joint venture

Angolan Competition Regulator Authority (ARC) on Tuesday said it is assessing the impact that Sonangol/TOTAL fusion could generate on competitors.

InocA�ncio Muachingue, head of ARC Concentration Control Department, said the assessment process is still being conducted, but a decision will be made soon.

ARC official also underscored that since Sonangol already operates in the logistic chain, distribution, trade and byproducts market, it needs to assess whether there will be no hindrances or if the two firms can be aligned in terms of strategy.

ARC is responsible for the application of the law on competition and tackle abuse and monopoly.

Source: Angola Press News Agency