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11 04 2014

The Supreme Administrative Court of Lithuania (the Court) confirmed that the agreements concluded between UAB G4S Lietuva (G4S) and the banks, namely, AB SEB bank (SEB), Swedbank, AB (Swedbank) and AB DNB bank (DNB), restricted competition within the cash handling market and limited the possibilities of bank clients to choose the provider of cash-in-transit services.

Despite the aforementioned, the Court annulled the fines imposed on the banks by the Competition Council (the KT) on 20 December 2012. The Court ruled that the banks were not at fault for the restrictions of competition created by the concluded agreements.

“We respect the Court’s ruling. However, we also note that all the parties to the agreement should ensure that the concluded agreements will not restrict competition or consumer choice.

The KT‘s investigation encouraged the contractors to cease their anticompetitive conduct, increased competition within cash handling market and gave consumers the possibility to choose the provider of cash-in-transit services“ – says Šarūnas Keserauskas, the Chairman of the KT.

The Court held that the KT had not properly evaluated the commitments proposed by G4S and, therefore, referred the relevant part of the case back to the KT for further investigation.

The KT will evaluate whether the commitments proposed by G4S will ensure effective competition.

Competition Council Spokesperson