NETHERLANDS-BASED THE IT CHANNEL COMPANY RECEIVED MERGER CLEARANCE

On September 5 the Council cleared the acquisition of 23 per cent of UAB 1ClickFactory shares and joint control by the Netherlands-based The IT Channel Company from UAB Volternas and the Danish company Sfink Invest.

On August 10 the Council received merger notification. Having evaluated all the circumstances related to the transaction, the Council acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

The intended merger must be notified to the Competition Council and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 14.5 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 1.45 million.