</titre> Since the 1970?s, Algeria?s dependency on hydrocarbons has dramatically increased. In the last decade, this sector has represented more than 40% of GDP. The country suffers from Dutch disease symptoms such as deindustrialization and increases in prices of non tradable goods and services, and...

We study horizontal partial acquisitions in an oligopolistic industry in the absence of synergies.Contrary to existing results, we …nd that a dominant shareholder may choose to acquire sharesin a competitor although the aggregate pro…t of the group of …rms under his control, and eventhe...