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REFERENCE RELATING TO THE ANTICIPATED
ACQUISITION BY STENA AB OF CERTAIN ASSETS OPERATED BY THE
PENINSULAR AND ORIENTAL STEAM NAVIGATION COMPANY ON THE IRISH
SEA
NOTICE OF PROVISIONAL FINDINGS MADE
UNDER RULE 10.3 OF THE COMPETITION COMMISSION’S RULES
OF PROCEDURE
- On 22 August 2003, the Office of
Fair Trading, in exercise of its duty under section 33 of
the Enterprise Act 2002 (“the Act”) and its
power under section 36(5) of the Act, referred to the Competition
Commission (“the Commission”) the anticipated
acquisition by Stena AB (“Stena”) of certain
assets operated by the Peninsular and Oriental Steam Navigation
Company (“P&O”) on the Irish Sea.
Provisional findings
- The Commission inquiry
group (“the Group”) appointed to consider this
reference has made the following provisional findings on
the statutory questions it has to decide pursuant to section
36(1) of the Act:
a) arrangements are in progress or in contemplation which,
if carried into effect by Stena and P&O, will result
in the creation of a relevant merger situation; and
b) the creation of that situation may be expected to result
in a substantial lessening of competition within the market
for transporting roll-on/roll-off and lift-on/lift-off freight
between Great Britain and Ireland in the central corridor
of the Irish Sea, but may not be expected to result in a
substantial lessening of competition within the market for
transporting roll-on/roll-off and lift-on/lift-off freight
between Great Britain and Ireland in the northern corridor
of the Irish Sea.
- The Group’s reasons
are set out in full in the provisional findings report,
which is attached to this notice, and are summarised in
the executive summary of the provisional findings report
(see note (i) below).
The next steps
- Stena and P&O are now invited
to provide the Group with their reasons in writing as to
why these provisional findings should not become final (or,
as the case may be, should be varied).
- These reasons in writing should
be received by the Group no later than Thursday 18 December
2003.
- The Group will have regard to any
such reasons provided by Stena and P&O in making its
final decisions on the statutory questions and actions.
- The group will shortly send to
Stena and P&O and publish a notice of the actions which
it considers might be taken by the Commission to remedy
the adverse effects provisionally identified.
Signed
Paul Geroski
Group Chairman
27 November 2003
Notes
(i) A copy of this notice and the executive
summary of the provisional findings report will be placed
on the Commission’s website on 28 November 2003. The
Commission proposes to publish the provisional findings report
on its website by 5 December 2003. The published version of
the provisional findings report shall not contain any information
which the Group considers should be excluded from the report,
having regard to the three considerations set out in section
244 of the Act.
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