KT ALLOWS UAB BIG GROUP TO ACQUIRE UAB SNORAS MEDIA
On 1 October, the Competition Council (Konkurencijos taryba, KT) allowed UAB Big Group to acquire 100 per cent of UAB Snoras Media shares.
Having evaluated all the circumstances related to the merger, the KT acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.
(1) Mergers (Concentrations) are cases when two independent undertakings merge or when one undertaking gains control over another. As these changes may restrict effective competition in a relevant market, mergers involving firms that exceed turnover limits established in the Law on Competition must be cleared by the KT. The KT authorises only such mergers that will not have significant adverse effects on the conditions of competition.
(2) Control means any rights arising from laws or transactions that entitle a legal or natural person to exert a decisive influence on the activity of an undertaking, including the right of ownership to all or part of the assets of the undertaking or the right to use all or part of such assets; other rights which confer a decisive influence on the decisions or the composition of the undertaking’s personnel.
Communication divisionCompetition Council Spokesperson