COMPETITION COUNCIL CLEARS ACQUISITION OF 100 PER CENT OF UAB ŽIRMŪNŲ BŪSTAS SHARES BY UAB NEMUNO BŪSTO PRIEŽIŪRA

On October 16, the Competition Council (KT) cleared acquisition of 100 per cent of UAB Žirmūnų būstas shares by UAB Nemuno būsto priežiūra.

UAB Žirmūnų būstas as well as the companies related to UAB Nemuno būsto priežiūra provides the services of administration of multi-storeyed houses in the city of Vilnius. The KT found that the choice of apartment owners determines intensity of the competition among the providers of property administration services. Legal regulation determines the incentives of consumers to benefit from the existing competition.

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. The KT also notes that the merger will not limit the possibilities for consumers to choose other providers of property administration services. There are at least 20 of them currently operating in the market.