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PMÚ approves acquisition of ElectroWorld

THE ANTITRUST Office (PMÚ) has definitely approved the acquisition of ElectroWorld premises by the company Nay. The firm will get 26 premises, three of which are in Slovakia, the rest in the Czech Republic.

THE ANTITRUST Office (PMÚ) has definitely approved the acquisition of ElectroWorld premises by the company Nay. The firm will get 26 premises, three of which are in Slovakia, the rest in the Czech Republic.

The PMÚ issued the decision on July 17, claiming that the merger will not affect the market since Nay has already been a dominant player in the field of electronics.

“The transaction in question will increase the share of Nay, but this growth is relatively low and does not represent the significant change in the market, while there were no circumstances that would justify the existence of competition concerns,” the PMÚ stated, as quoted by the SITA newswire.

Nay bought the premises of ElectroWorld in Slovakia and the Czech Republic from British firm Dixons Retail. These reported a loss at £5.6 million in the past financial year that ended in April 2014, while the revenues stood at £129 million, SITA reported.

After the acquisition, Nay will control together 57 premises in the Czech Republic and Slovakia, with turnover at about €300 million.

Source: SITA

Compiled by Radka Minarechová from press reports

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