The Norwegian Competition Authority has decided to extend the duty of specific market players to inform the Authority about mergers and acquisitions in individual markets where the degree of local competition is of particular significance.
– In such markets, also the acquisition of smaller market players can adversely affect the competitive situation and lead to higher prices and harm to consumers. The disclosure requirements mean that the companies concerned must provide the Authority with information about acquisitions that fall below the ordinary notification thresholds, says Director General Lars Sørgard.
The disclosure requirements have been extended for a period of 2 years, i.e. until the end of 2020. The markets in which some of the market players will have a duty to inform the Authority about mergers and acquisitions after 1 January 2019 are:
- Fuel (Uno-X Energi AS, St1 Norge AS, Certas Energy Norway AS og Circle K Norge AS)
- Energy (Statkraft AS, BKK AS, Skagerak Energi AS og Agder Energi AS)
- Waste (Norsk Gjenvinning Norge AS)
- Daily consumer goods (Norgesgruppen ASA, Coop Norge SA, Rema 1000 og Bunnpris IK Lykke AS)
- Locksmith (AssaAbloy Norge AS)
- Newspapers (Amedia, Polaris og Schibsted)
- Broadband (Telenor)
The disclosure requirements will ensure that the Norwegian Competition Authority is made aware of acquisitions by these operators even if they fall below the regular notification thresholds.
– The Norwegian Competition Authority can intervene against mergers and acquisitions that fall below the notification thresholds if they worsen the competitive situation to the detriment of consumers. The Norwegian Competition Authority’s main concern is to ensure effective competition for the benefit of consumers, says Sørgard.
The Authority will assess whether there is a need to introduce disclosure requirements for additional market players. This is always a continuous process.