Disclosure requirements for specific markets

Pursuant to Section 24 of the Competition Act, the Competition Authority may impose disclosure requirements on specific market operators in individual markets where among other Things the degree of local competition is of particular importance.

In such markets, also the acquisition of smaller market players can adversely affect the condition of competition and lead to higher prices and harm to consumers. The disclosure requirements mean that the companies concerned must provide the Authority with information about all mergers and acquisitions they are involved in and which fall below the ordinary notification thresholds. Some players may also be obliged to disclose acquisitions of minority shareholdings.

Disclosure requirements are imposed for a period of two years. The period may be prolonged.

Currently, the following market players are required to inform the Authority about mergers and acquisitions:

The disclosure requirements will ensure that the Competition Authority is made aware of acquisitions by these operators even if they fall below the regular notification thresholds and enable the Authority to assess whether it is appropriate to require notification of these transactions.

The Competition Authority may take action against concentrations that fall below the notification thresholds if they worsen the condition of competition to the detriment of consumers. The Authority promotes effective competition to the benefit of consumers.

The Norwegian Competition Authority is continuously assessing whether there is a need to introduce disclosure requirements for additional market players and in other markets.

The disclosure requirements are important as they enable the Competition Authority to monitor competition in a number of markets and ensure that the Authority’s control of concentrations is effective. If disclosure requirements are not complied with administrative fines of up to 1 per cent of the turnover of the undertaking concerned can be imposed.