Locked content UOKiK launches proceedings agains three banks

Consumer watchdog UOKiK has initiated proceedings against lenders BPH, PKO BP and Pekao in relation to the way the banks calculated spreads on mortgage loans denominated in foreign currencies, UOKiK stated. The consumer protection office is alleging that the banks used imprecise wording in their mor...

Locked content PGE secures conditional UOKiK approval for EDF purchase

The anti-trust watchdog UOKiK, granted the conditional approval to WSE-listed power group PGE for the takeover of the Polish assets of EDF. In return, PGE will have to sell all power from the Rybnik power plant (roughly 25 percent of all the generated power) on the power exchange TGE until 2021. “Ex...

Locked content PGE submits its proposals to clear the takeover of EDF assets

According to Rzeczpospolita daily, PGE has submitted proposals to antitrust watchdog UOKiK which would allow it to takeover the Polish assets of EDF. The proposal includes: selling the coal-fired plant in Rybnik, letting someone else manage it, or increasing the mandatory 15 percent threshold of ene...

Locked content Eurocash faces long wait for UOKiK approval of Mila takeover

WSE-listed FMCG distributor Eurocash might wait at least six months to secure antitrust watchdog UOKiK approval to takeover Mila retail chain, according to the organization head Marek Niechciał. “Mila has 180 shops, we have to check whether it does not significantly infringe competition on all local...

Locked content PGE planned EDF takeover a threat to competition – UOKiK

After further analysis, Poland’s antitrust watchdog UOKiK said that the planned takeover of  Polish assets by state-owned power utility PGE could pose a threat to competition and limit electricity sales of the commodity exchange TGE. “Increasing PGE’s position may also result in a decline in t...

Locked content UOKiK with ‘major reservation’ on PGE takeover of EDF assets

Poland’s anti-trust body UOKiK has “major reservations” about state-owned utility PGE takeover of the Polish assets of French utility EDF. UOKiK will publish its concerns later this month after it finishes the second stage of the proceedings. The additional stage was launched as UOKiK wanted t...

Locked content GetBack gets UOKiK approval for EGB takeover

WSE-listed debt collector GetBack received the Polish antitrust watchdog UOKiK approval to takeover EGB Investments from Atlus TFI. GetBack bought EGB back in May, acquiring 99.4 percent of its shares for PLN 207.6 million. EGB Investments conducts debt collection activities, assisting banks, financ...

Locked content H + H files motion for Silikata Group takeover

Polish subsidiary of H + H has submitted an application to the Office for Competition and Consumer Protection (UOKiK) for approval to take control of the Silikata Group. H + H is a manufacturer and seller of autoclaved cellular concrete blocks and tiles as well as mortars for joining concrete cellul...

Locked content PGE Polish EDF assets takeover under detailed scrutiny – UOKiK

WSE-listed power group PGE has been put under more detailed scrutiny of its takeover of Polish assets of French utility EDF by the antitrust watchdog UOKiK. The case has been entered into the second phase of the proceedings, reserved for more complicated cases. UOKiK wants to conduct, among others, ...

Locked content Three banks under UOKiK scrutiny over FX mortgages

The antitrust watchdog UOKiK has launched inquiries into Getting Noble Bank, Deutsche Bank and Raiffeisen Bank Polska FX rates setting policies, which UOKiK calls “unclear.” “They are imprecise, arbitrarily determined. Raiffeisen set their FX rates on ‘average intra-bank exchange rates,’ Deutsche Ba...