Monday, 04 February 2013 08:29

Decision 560/2013

Decision on the prior notification of a concentration according to article 6 par. 1 of law 3959/2011 concerning the change in the quality of the exercised joint control over the company “CARDLINK ELECTRONIC TRANSACTION NETWORK MANAGEMENT AND OPERATION SA” by the companies “ALPHA BANK SA” and “EUROBANK-ERGASIAS BANK SA" with the entry of the company “EDGEPAY HOLDINGS LIMITED", as a new shareholder, and the functioning of the joint controlled company as a functionally autonomous economic entity in the market.

Decision 560/2013
File (PDF) Decision 560/2013
Date of Publication of Decision February 4th, 2013
Issue Number of Government Bulletin
Relevant Market

Banking, Financial Services, Cards

Subject of the Decision

Merger

Legal Framework

Articles 5-10 of L. 3959/2011

Operative part of the Decision

The notified merger was abandoned

Notifying company/ies

1. ALPHA BANK SA

2. EUROBANK - ERGASIAS BANK SA

Controlled

CARDLINK ELECTRONIC TRANSACTION NETWORK MANAGEMENT AND OPERATION SA

Summary of Decision

The HCC in Plenary, unanimously decided, that after the declaration of the parties that they abandon the notified concentration according to article 6 par. 1 of law 3959/2011, which concerns the change in the quality of the joint control exercised over the company “CARDLINK ELECTRONIC TRANSACTION NETWORK MANAGEMENT AND OPERATION SA” by the companies “ALPHA BANK SA” and “EUROBANK-ERGASIAS BANK SA" with the entry of the company “EDGEPAY HOLDINGS LIMITED”, as a new shareholder, and the functioning of the jointly controlled company as a functionally autonomous economic entity on the market, it is no longer necessary to examine it.

The abandonment of the agreement was preceded by the decision of the President of the HCC dated 07.11.2012 to initiate the proceedings for full investigation of the concentration, and the SO of the General Directorate of Competition, dated 11.01.2013, proposing the rejection of the notified merger, given that its conclusion may significantly impede the functioning of competition in the relevant markets concerned.

Judicial Means FinalNo judicial proceedings.
Decisions by the Court of Appeal of Athens (Administrative Division) -
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