By its Decision no. 887/2025 adopted on July 24^th the Hellenic Competition Commission, in Plenary sitting, by majority prohibited the concentration notified on 17.9.2024 concerning the acquisition of sole control by the company “ALPHABET EDUCATION SINGLE-MEMBER S.A.” (ALPHABET) over the company “DELTA SCHOOLS OF NORTHERN GREECE S.A.” (DELTA).

The transaction concerns the concentration of the two largest providers of vocational training services through the operation of Higher Vocational Education Schools (H.V.E.S.) (IEK AKMI and IEK DELTA) in the geographical markets of Attica, Thessaloniki and Volos.

In particular: 

ALPHABET is primarily active in the education sector a) through the company “AKMI Educational Single-Member S.A.” which provides vocational education, training, and lifelong learning services through the operation of Higher Vocational Education Schools (H.V.E.S.) under the name “IEK AKMI” and Lifelong Learning Centers (L.L.C.) under the name “AKMI LIFELONG LEARNING CENTERS”, and b) through the company “METROPOLITAN COLLEGE S.A.” (METROPOLITAN COLLEGE).

DELTA provides vocational education, training, and lifelong learning services through the operation of a H.V.E.S. under the name “IEK DELTA 360” and a L.L.C. under the name “DELTA SCHOOLS OF NORTHERN GREECE L.L.C. S.A.".

Following completion of the full investigation procedure regarding the notified concentration, the aforementioned HCC’s Decision found that the concentration raises serious concerns as to its compatibility with competition rules in the relevant markets for the provision of vocational training services through private H.V.E.S. in the geographic markets of Attica, Thessaloniki and Volos (overlapping the relevant market with Larissa), by creating a dominant/hyper-dominant (as appropriate) position of the new entity in these markets. This transaction would lead to the merger of the two largest providers of vocational training services through private H.V.E.S. providers in the geographical markets concerned.

According to the grounds of the Decision, the new entity would likely have a very high combined market share in all the above markets, which would lead to the creation of a dominant or hyper-dominant (as appropriate) position therein, in conjunction with a significant discrepancy between the next competitor’s market share and the new entity’s market share. In addition, the parties are in direct competitive proximity in relation to all key competition parameters, while enjoying the highest reputation, a very strong brand name and a well-established position in the market vis-à-vis their other competitors, which they are able to maintain and enhance through substantial advertising expenditure. Furthemore, the HCC considered that effective competition could not be ensured either by actual or potential competitors or by public H.V.E.S due to the lack of sufficient competitive pressure. In addition, the HCC took into account the estimated very high combined market share of the new entity in the Greek territory, with AKMI ranking first and DELTA second, as well as the competitors' views on the possible effects of the proposed concentration on the competitive market structure.

In light of the above, the proposed concentration would result in: 

• the elimination by ALPHABET of its major competitor;
• the emergence of an indisputable leader in the above markets through the new entity;
• raising very high barriers to potential competitors’ entry and to actual competitors’ expansion;
• the possibility of increasing prices and lowering service quality.

Therefore, the HCC concluded that the proposed transaction would create a significant impediment to effective competition in the above markets.

It is noted that, at an earlier stage of the procedure, ALPHABET offered commitments to address the Competition Commission's concerns in relation to the effects of the proposed concentration on the competitive structure. Commitments are generally aimed at ensuring competitive market structures and their acceptance is subject to specific criteria, namely, they must fully address any competition concerns identified, be comprehensive and effective in all respects and be effectively implementable and verifiable.

In particular, with regard to the relevant markets of Thessaloniki and Attica, ALPHABET proposed certain pricing and non-pricing behavioural measures, for a period of two years, to address the HCC's concerns regarding the new entity's possibility of raising barriers to potential competitors’ entry and to actual competitors’ expansion as well as its concerns regarding an increase in tuition fees. The HCC concluded that the proposed commitments do not fully address the competition concerns identified in the Statement of Objections and are, therefore, deemed inappropriate. These commitments do not address the structural competition issue identified by the HCC, which consists in the weakening of the competitive structure of the markets under consideration due to the creation of a dominant/hyper-dominant position of ALPHABET (AKMI) and the elimination of its major competitor and, hence, of the significant competitive pressure previously exerted by the latter on AKMI.

As regards the relevant market of Volos (overlapping with Larissa), the acquirer offered the structural commitment to divest the DELTA branch in Volos. This commitment could, under certain conditions, be deemed appropriate, but not sufficient in itself to justify per se the clearance of the notified concentration, as the aforementioned commitments offered regarding the Attica and Thessaloniki markets do not address the competitive structure issue described therein.