UOKiK extends Bytom-Vistula merger proceedings

The antitrust watchdog UOKiK has extended antimonopoly proceedings on the merger of clothing retailers Vistula and Bytom by 4 months. The case has been entered into the second phase of the proceedings, reserved for more complicated cases. UOKiK now can conduct, among others, market analysis. The merger motion was filed back in September. WSE-listed fashion retailers Vistula and Bytom signed a merger plan, both companies announced. According to it, the share parity has been set at 0.82, meaning that for every Bytom share, its shareholders would receive 0.82 Vistula share. In 2016, Vistula had PLN 35.2 million net profit, while its peer Bytom had PLN 12.4 million in net profits. Vistula is worth some PLN 570 million, according to its share price, while Bytom capitalization is at some PLN 194 million.