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Suspense and uncertainty in the Constitutional Court (TC) on the admissibility of the appeal filed by Pampa Calichera, the SQM's controller, Julio Ponce Lerou, against the agreement reached between the National Economic Prosecutor's Office (FNE) and Tianqi, which allow the entry of the Chinese company on the property of Chilean nonmetallic mining.
The day finally arrived and, by a split decision, for three to two the Constitutional Court declared inadmissible the appeal of unconstitutionality presented by the ex-son-in-law Augusto Pinochet, through his cascading societies, and that had been ratified by the Tribunal for the Defense of Free Competition (TDLC). 19659002] The votes in favor of the inadmissibility were pronounced by the President of the Chamber, Gonzalo García, as well as by Maria Luisa Brahm and Miguel Ángel Fernández. For their part, Ministers Cristián Letelier and Nelson Pozo voted for the partial admissibility, only with regard to the expression "without form of judgment", contained in the challenged norm, and had to maintain a restricted suspension of the proceedings .
"The declaration of inadmissibility ratifies the power of the FNE to conclude out-of-court agreements with economic agents and the power of the TDLC to know, approve and / or reject them, as a precautionary measure. effective tool to fulfill its function to protect free competition in the markets, "says the resolution.
What does this mean? The 24% SQM sales process was reactivated, which had been suspended after the filing of a review petition before the TDLC. The debate is now continuing before this court.
It should be mentioned that the session of the Second Chamber was held on Thursday after the arguments of the parties had been heard on Monday, during which it was decided to give a period of three days (up to To today), given the great depth that has been presented. However, the parties involved did not remain inactive and yesterday entered the new TC basic information.
Nutrien's latest decision, to which Tianqi buys 24% of the SQM, consisted of the submission of documents showing that there had been previous negotiations between Ponce Lerou and Chinese society. For its part, the Asian company, after the expiry of the confidentiality period, announced the record of its negotiations with the SQM controller and the Pampa group in 2016, when the contractor ordered Banco Itaú Argentina to seek a partner or to sell some or all of its shares in the company of which SQM is based.
In addition, the discussion of the agreement has attracted the attention of experts who see consequences on the global lithium market with the arrival of Chinese capital. SQM One of them is Manuel Cruzat, who accuses the FNE of negligence in defending Tianqi 's entrance into the non – metallic mining company. The economist emphasizes the key role of the national economic prosecutor, noting that "controlling nearly 70% of the global lithium of Albemarle, Tianqi and SQM, within the framework of a structure that also tends to monopsony, can not be in the interest of Corfo of Chile. "
See here the complete resolution of the Constitutional Court.
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