UK COMPETITION COMMISSION PROVISIONAL FINDINGS
The UK Competition Commission ruled that Eurotunnel's acquisition of ex-SeaFrance was anti-competitive and Eurotunnel must cease ferry operations at the Port of Dover
In June 2013, following an investigation into Eurotunnel's acquisition of the ex-SeaFrance business and subsequent launch of ferry operations between Dover and Calais, the UK Competition Commission (“CC”) ruled that the acquisition was anti-competitive, and that Eurotunnel must cease ferry operations at the Port of Dover. Eurotunnel and SCOP, the operating entity, appealed to the Competition Appeal Tribunal (“CAT”). In December 2013, the CAT asked the CC to reconsider whether the transaction was a transfer of an enterprise or assets, as this distinction determines whether the CC has jurisdiction to consider the transaction.
Today, the CC announced its provisional findings, confirming that it does have jurisdiction to consider the transaction. Consequently, the CC’s competitive assessment and ruling in June 2013 remain unchanged at this time. The CC now invites observations on its provisional findings, with its final ruling due in early May 2014.
”We are very pleased with the provisional findings and look forward to the CC's final decision,” says Niels Smedegaard, CEO of DFDS.
“DFDS remains committed to acting in the best interests of our customers, employees and shareholders. Our objectives can only be achieved if conditions for fair competition are re-established in the Channel market,” says Niels Smedegaard.
Niels Smedegaard, CEO +45 33 42 34 00
Torben Carlsen, CFO +45 33 42 32 01
Søren Brøndholt Nielsen, IR +45 33 42 33 59