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The Merger between MP banki hf. and Straumur fjárfestingarbanki hf.

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  • Case number: 17/2015
  • Date: 12/6/2015
  • Company:
    • MP banki hf.
    • Straumur fjárfestingabanki
  • Sectors:
    • Financial services
  • Policy Area:
    • Mergers
  • Summary

    The Icelandic Competition Authority (ICA) has been reviewing a merger between Straumur fjárfestingarbanki hf. and MP banki hf. MP banki is both a retail bank and an investment bank but Straumur operates only as an investment bank.

    In the markets where the merging parties operate they compete i.a. with three integrated retail and investmentment banks which are, each, much bigger than the combined bank of the merging parties.Considerable difference is therefore between the financial strength of the combined bank and each of these three big integrated banks.

    It is the ICA's assessment that the merger will neither give rise to a dominant position nor strengthening of a dominant position in any market. Moreover, the merger is not considered liable to cause appreciable harm to competition in other ways. Therefore, it is the conclusion of the ICA that there is no reason to intervene in this merger on the basis of Article 17 of the Icelandic Competition Act.