Romanian Competition Law Update

July 2026 – The first half of 2026 reflects a period of notable development in Romania’s competition and foreign investment landscape, marked by both legislative reform and active enforcement. The entry into force of several important updates to the country’s FDI screening framework brought clarity, efficiency, and alignment with evolving economic and security priorities. At the same time, the Romanian Competition Council (“RCC”) maintained a proactive stance in merger control, reviewing complex deals across strategic sectors while also advancing focused investigations into alleged anti‑competitive practices.

I. Latest updates

In March 2026, the Romanian government adopted a long‑awaited update to its investment screening rules through a new emergency ordinance (“GEO 17/2026”). The changes are intended to improve the system’s practical application and better align with current economic and security priorities.

One of the key updates is the increase in the mandatory investment value filing threshold from EUR 2 million to EUR 5 million. This means that smaller, routine transactions are less likely to require notification, reducing the administrative burden for investors while allowing authorities to focus on more substantial deals.

The new rules also bring more clarity on the treatment of asset deals, an area that has generated uncertainty in practice. Going forward, only acquisitions of tangible or intangible assets linked to specifically defined sensitive sectors will fall within the scope of review. These sectors include critical and advanced technologies (such as AI, semiconductors, quantum technologies, biotechnology and nuclear-related activities), as well as critical infrastructure relating to energy, transport, water, health, data processing and storage, aerospace, defence, and financial or electoral systems. The pharmaceutical industry, defence sector, and certain agri-food activities are also expressly included.

At the same time, certain intra-group restructurings involving EU investors or investors originating from OECD jurisdictions are now exempt, as long as control and ownership remain unchanged and the source of funding is intra-group or originates exclusively from EU or OECD jurisdictions.

In addition, the review process has been streamlined, with shorter timelines for approvals: Romania’s FDI Screening Commission (“CEISD”) will now issue its opinion within 45 days from the moment the filing is deemed complete, replacing the previous 60-day period. For straightforward cases, clearance would then be granted by the head of the Prime Minister’s Chancellery within 10 calendar days from receiving the CEISD opinion.

The ordinance also introduces an aggregation rule, under which multiple related transactions carried out by the same parties within a one-year period may be treated as a single investment for screening purposes. Investors must submit a filing once the cumulative value of such operations exceeds the EUR 5 million threshold, preventing the artificial fragmentation of transactions aimed at circumventing the screening obligation.

Other amendments address the CEISD’s requests for information. Companies now have more time (30 days instead of 15) to answer information requests, but failing to respond may now lead to closing the screening proceedings, in addition to the authorities’ existing power to apply fines for non-compliance.

Overall, GEO 17/2026 marks a meaningful step towards modernising Romania’s FDI screening framework and improving its efficiency. The increased thresholds, clearer scope, streamlined procedures, and updated institutional setup should contribute to a more predictable and workable system.

In late April 2026, the Ministry of Economy launched in public consultation a draft Government Emergency Ordinance (“GEO draft”) that proposes several amendments to the Competition Law. The new provisions would significantly expand the Romanian merger control framework by capturing transactions that may fall below traditional turnover thresholds but are nonetheless competitively relevant, by combining (i) a minimum turnover threshold with a transaction value test (exceeding EUR 5 million) and (ii) a separate trigger targeting acquisitions by very large undertakings (over EUR 500 million turnover in Romania) active in the same or related markets. The GEO draft also strengthens oversight by granting the Competition Council a “call-in” power to require notification of below-threshold transactions within six months where a potential risk to competition is identified, coupled with the ability to suspend implementation pending review. In parallel, the GEO draft introduces an independent hearing officer, aimed at safeguarding procedural rights (including access to file and confidentiality claims) and enhancing transparency and fairness in competition proceedings.

Additionally, the proposed amendments would introduce a targeted enforcement mechanism for vertical agreements, allowing the Competition Council, by exception, to attribute liability and impose sanctions on only one party involved in an infringement. This assessment is based on factors such as the parties’ roles, the nature of the infringement, the existence of economic dependence or lack of countervailing bargaining power, and the need to restore competition.

The GEO draft has not entered into force and appears to be in a state of legislative hiatus, against the background of the current political turmoil. It remains unclear whether the next administration will advance the amendments in their current form or propose further changes.

II. Mergers & acquisitions

In late 2025, the RCC looked closely at Schwarz Group’s plan to acquire the La Cocos retail chain . The authority was concerned that the transaction could reduce competition in certain local markets, potentially lead to higher prices, and make some suppliers overly dependent on La Cocos. To address these issues, Schwarz Group proposed a set of commitments, which were also published for public consultation.

Following an in-depth review, in February 2026 the authority approved the transaction, subject to commitments from Schwarz Group.

A key part of these commitments is that Schwarz Group must maintain La Cocos’s existing business model, which focuses on low prices and high sales volumes. The group also committed not to close stores or limit the chain’s activity, and to expand its network across the country over the next 5 years. There are also safeguards for suppliers, aimed at preventing unfair delisting. Overall, RCC concluded that, with these measures in place, the transaction can proceed without harming competition or consumer interests.

In April 2026, the RCC conditionally approved Sameday’s acquisition of Cargus. The RCC previously had several concerns, including how the deal might affect Cargus’s existing customers, the expansion of Sameday’s locker network, and the fact that Sameday is part of the Romanian-based eMAG group—one of Central and Eastern Europe’s largest e-commerce operators—which raised questions about access to competitors’ sensitive business information.

To address these issues, Sameday agreed to a range of commitments. Notably, it has committed to keep the current commercial terms in Cargus’s contracts with its clients for a period of 12 months, while retaining some flexibility to exit contracts under certain conditions, with proper notice.

A key structural measure undertaken by Sameday is the divestment of Cargus’s locker business to a suitable buyer. This is meant to ensure that the locker segment remains competitive and functions independently from Sameday’s own network. In addition, eMAG will introduce clear and transparent rules for courier access to its Marketplace platform, including objective criteria for order allocation and performance standards.

Finally, the group committed to safeguards around sensitive information, including measures to prevent the sharing of confidential data between customers who are also competitors and eMAG.

III. Investigations

In May 2026, the RCC launched an investigation into the security services market, followed by dawn raids carried out at the premises of several companies active in this sector. The ongoing investigation focuses on possible bid rigging in public procurement procedures organised by various authorities in Romania.

The RCC is investigating whether these companies may have potentially engaged in market sharing and coordinated their pricing strategies. It is also examining whether there were agreements on how to use state subsidies for hiring staff, and whether these practices may have influenced the outcome of public tenders. This case reflects the RCC’s continued focus on preventing bid rigging in public procurement, which remains a key enforcement priority.

Also, in May 2026, the RCC fined five companies active in the medical imaging equipment sector a total of approx. RON 6.4 million (approx. EUR 1.27 million) for participating in an anti‑competitive agreement. The case involved Esaote – one of the world's leading manufacturer of medical diagnostic imaging, dedicated MRI and one of the main providers for Healthcare IT – and several of its distributors in Europe.

The RCC found that, between 2020 and 2022, the companies coordinated their behaviour to restrict parallel sales of Esaote equipment into and out of Romania, effectively isolating the national market. Distributors based in Germany could not sell equipment to customers in Romania and Romanian distributors could not sell equipment to customers outside Romania, even upon request. As a result, Romania was isolated from the rest of the internal market, and intra-brand competition for Esaote equipment was restricted.

Conclusion

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