Still not certain whether DNB will be allowed to buy Sbanken

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Still not certain whether DNB will be allowed to buy Sbanken

The Norwegian Competition Authority postponed the deadline for deciding on the approval of DNB’s acquisition of Sbanken until November 18.

Since April, the Norwegian Competition Authority has considered whether to stop DNB’s acquisition of competitor Sbanken.

In June, it became known that DNB had secured 90.9% of the shares in the bank at NOK 108.85 per share. 

The Norwegian Competition Authority announced on June 24 that it might stop the acquisition, and the bank re-announced its acquisition notification on August 26. 

The Authority has been concerned that DNB’s acquisition of Sbanken could lead to weakened competition on the market and poorer conditions for bank customers who want to save in funds.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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