Locked content PZU gets anit-trust approval for Bank Pekao takeover

WSE-listed insurer PZU secured the anti-trust watchdog UOKiK’s approval to buy 32.8 percent stake in Bank Pekao, meeting one of the conditions for the deal to go through, PZU said in a market filing. PZU and state fund PFR paid PLN 10.59 billion for the stake. The last major hurdle required fo...

Locked content Three banks under scrutiny over FX rate setting rules

Poland’s antitrust watchdog UOKiK has launched inquiry, regarding banks BZ WBK, Millennium and BGZ BNP Paribas FX rates setting rules, which UOKiK called “unclear.” “The provisions in question are both imprecise and discretionary in nature; for example, the currency exchange rate would be dete...

Locked content Orange Polska hit with PLN 30 mln fine

WSE-listed telecom group Orange Polska has been issued a PLN 30 million fine from anti-monopoly watchdog UOKiK for “unlawful prolongation of contracts for fixed line phone and internet services. Additionally, Orange will have to pay further compensation to clients and former clients affected by the ...

Locked content Polsat hit with PLN 40 million fine

Polish antimonopoly watchdog, UOKiK has fined Cyfrowy Polsat and telecom Polkomtel (both controlled by Polish billionaire Zygmunt Solorz-Żak) with combined fines of over PLN 40 million over misleading ads. UOKiK launched its investigation after a number of complaints from customers of smartDOM and P...

UOKiK to begin proceedings against Volkswagen

Poland’s Office of Competition and Consumer Protection (UOKiK) is, this week, initiating proceedings against Volkswagen Poland arising from last year’s emissions manipulation scandal, UOKiK said in a press release on Thursday. VW Poland could face a penalty of up 10 percent of the company’s turnover...

Locked content Eurocash takeover of PDA conditionally approved

The President of the Office of Competition and Consumer Protection (UOKiK) in Poland has approved the acquisition of Poland Spirits Distribution (PDA) by consumer goods-distributor Eurocash, a Polish press report stated on Thursday. Eurocash had signed a preliminary agreement to acquire PD in Decemb...

Locked content Neuca changes its mind on Intra acquisition

The management board of WSE-listed pharmaceutical distributor Neuca decided against signing the final agreement to purchase pharmaceutical wholesaler Intra. Neuca signed a preliminary agreement to buy a 100 percent stake in Intra back in April this year. The deal was to be finalised before the end o...

Locked content Lidl’s promotional campaign under review

A recent sales campaign by the discount grocery chain Lidl is being investigated by the Office of Competition and Consumer Protection (UOKiK) to determine whether or not the company violated promotion rules that are meant to protect the collective rights of customers, a report in Gazeta Prawna on Tu...

Locked content UOKiK submits to court over FX-mortgages at mBank

The Consumer Protection Authority (UOKiK) has for the second time struck down a contractual clause in some existing mortgage loans of commercial lender mBank, the watchdog informed on Friday. “Contract clauses that too vaguely indicate the grounds for changing interest rates are prohibited, as...