Decision Nº M/03/035 from Competition and Consumer Protection Commission, 2003-12-03

• Jurisdiction: Ireland
• Parties: P&O,Stena
• Date: 03 December 2003
• Decision Number: M/03/035
• Status: Withdrawn
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Date: 03 December 2003

17th February 2004

NEWS RELEASE

Stena’s proposed acquisition of P&O’s assets on the Irish

Sea formally withdrawn

The Competition Authority announced today (17th February) that the

proposed acquisition by Stena of P&O’s Dublin/Liverpool and Larne/Fleetwood

routes on the Irish sea has been formally withdrawn by the parties. As part

of the transaction P&O was due to close its Dublin/Mostyn service. As a

result of the parties’ action, the Authority will not proceed to issue a final

determination on the matter.

Since 4th December 2004, the Authority has undertaken a full investigation of

the proposed transaction. Based on extensive information obtained from

customers, port authorities, competitors and other interested parties, a

detailed Assessment was issued to the parties on 26th January 2004. The

Assessment identified serious competitive concerns on the Dublin/Liverpool

and Dublin/Mostyn routes. The Authority was concerned that the transaction

could raise the prices of freight and transport services for goods shipped via

ferry to and from Ireland to the detriment of Irish businesses and consumers.

The withdrawal of the notice to the Authority was preceded by a decision by

the UK Competition Commission on 5th February 2004 that it was not

allowing the transaction under similar UK merger legislation.

The Competition Authority was notified of the proposed acquisition on 7th

November 2003. After a preliminary investigation lasting one month (Phase

1) the Authority was unable to conclude, without further investigation, that

the transaction would not substantially lessen competition. The Competition

Authority announced on 4th December that it would carry out a full

investigation (Phase 2) in relation to the proposed acquisition.

ENDS

For further information contact:

Mark Garrett, Communications Manager, The Competition Authority

Tel: 01 8045406 Mobile: 086 601 9655 email: mg@tca.ie