The European Commission has opened an in-depth investigation to assess the proposed acquisition of Lotos by PKN Orlen as it is concerned that the merger may reduce competition and cause prices growth. "The proposed acquisition of Lotos by PKN Orlen would affect several strategically important energy markets," said Commissioner Margrethe Vestager, in charge of competition policy. "The Commission will investigate whether the proposed acquisition would reduce competition and lead to higher prices for or less choice of fuels and related products for business customers and end consumers in Poland and the other Member States”.

The initial investigation showed that the transaction would lead to the creation of a quasi-monopoly at an ex-refinery level in Poland since it would combine the only two companies owning a refinery in the country. In addition, considering the volumes of fuels held by PKN Orlen and Lotos, the Commission is concerned that the merged the entity would have the ability and incentive to stop supplying its downstream rivals, thus shutting them out of the markets.

(Warsaw Business Journal)

pkn orlen
lotos
merger
europen commission

lifestyle

LifeStyle
1 month ago

Doda Promises Emotions and Surprises at Polsat Hit Festival in Sopot

LifeStyle
1 month ago

New Culinary Concept Opens in Warsaw’s Kamionek District

LifeStyle
2 months ago

Mercedes-Benz Unveils Sleek New CLA with Electric Power and AI Tech

LifeStyle
2 months ago

Klaudia Zioberczyk Advocates for Minimalism Amidst Rising Modeling Career

Book of Lists

Book of Lists
4 years ago

The largest Polish companies under the Book of Lists microscope! Book of Lists 2020/2021 certificates have been awarded.

Book of Lists
5 years ago

25th jubilee edition of Book of Lists – project start