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Decision 773/2022 | |
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| File (PDF) | Decision 773/2022 |
| Date of Issuance of Decision | March 22nd, 2022 |
| Issue Number of Government Bulletin | Publication pending
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| Relevant Market | The upstream market of payment card acceptance services (Merchant Acquiring), the downstream market that of, the data of processing services related to the acceptance of cards (Card Acquiring Processing) and the market for the supply and management of POS terminals |
| Subject of the Decision | Subject of the Decision Clearance decision on the notified concentration, pursuant to articles 5-10 of L.3959/2011, as in force, concerning the acquisition of sole control, within the meaning of the article 5 par. 2 (b) of L. 3959/2011, by Nexi SpA on the Merchant Acquiring Business Unit of Alpha Bank SA in the market of payment card acceptance services, following the Statement of Objections under ref. no 2681/18.03.2022 of Commissioner-Rapporteur Ioannis Stefatos. |
| Legal Framework | Articles 6-8, L. 3959/2011 |
| Operative part of the Decision | Operative part of the Decision The Hellenic Competition Commission, in plenary, unanimously approved, under article 8 par. 3 of Law 3959/2011, the notified concentration consisting in the change of control, as the proposed concentration , although falling within the scope of Art. 6(1) of Law 3959/2011, does not raise any serious doubts as to its compatibility with competition rules in the wider market for payment services and the individual relevant markets in Greece. |
| Company(ies) concerned |
1) NEXI SpA |
| Summary of Decision |
According to the Decision, although Alpha Bank is active in the market of payment card acceptance services (Merchant Acquiring) and NEXI is active in the downstream market of the data of processing services related to the acceptance of cards (Acquiring Processing), with a significant market share, the said company provides these services in the acquiring unit of Alpha Bank. As a consequence, Alpha Bank is the sole customer of NEXI on an exclusive basis and therefore NEXI will not be able, through this concentration, to foreclose other customers in this market. In any event, it is noted that in the upstream market, the other large and equal in terms of market share domestic player, Euronet, clearly has the potential to increase production in response to any production restriction by the new entity. |
| Judicial Means | - |
| Decisions by the Court of Appeal of Athens (Administrative Division) | - |
Tuesday, 22 March 2022
Decision 773/2022
Clearance decision on the notified concentration, pursuant to articles 5-10 of L.3959/2011, as in force, concerning the acquisition of sole control, within the meaning of the article 5 par. 2 (b) of L. 3959/2011, by Nexi SpA on the Merchant Acquiring Business Unit of Alpha Bank SA in the market of payment card acceptance services.
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