If one lesson can be learned from the European Commission’s deal-killing challenge to the proposed General Electric-Honeywell merger after U.S. authorities had OK’d the combination, it is that compliance with foreign antitrust statutes by American-based international corporations cannot be disregarded. While the antitrust enforcement efforts of the EC are well-publicized, antitrust enforcement in other foreign jurisdictions has not received the same degree of media attention.

But a lack of ink and sound bites does not mean that corporations can ignore the antitrust laws of non-EC nations with impunity. Consider the competition statutes of four of Latin America’s major markets.

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