COMPETITION COUNCIL CLEARS ACQUISITION OF 25 PER CENT OF JSC TELEVIZIJOS IR RYŠIO SISTEMOS SHARES BY PRACTICA VENTURE CAPITAL KŪB

On 13 May, the Competition Council (the KT) allowed Practica Venture Capital KŪB to acquire 25 per cent of JSC Televizijos ir ryšio sistemos shares and, thus, gain a sole negative control of the latter company.

Practica Venture Capital KŪB and the related companies provide services of investment and business consulting as well as recreation. The company produces furniture, creates websites, etc.

JSC Televizijos ir ryšio sistemos provides integration services of specialised professional audio and video systems as well as produces specialised broadcast vehicles.

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.