Decision Nº M/03/036 from Competition and Consumer Protection Commission, 2003-12-31

• Jurisdiction: Ireland
• Court: Competition and Consumer Protection Commission (Ireland)
• Parties: Trinity Mirror,3i Group
• Date: 31 December 2003
• Status: Cleared (Phase 1)
• Decision Date: 31 December 2003
• Decision Number: M/03/036

Determination of the Competition Authority

Determination No. M/03/036 of the Competition Authority, dated 31st of

December 2003, under Section 21 ofthe Competition Act, 2002

Notification No. M/03/036 – Acquisition by Local Press Limited, a new investee

company of 3i Group plc, of The Derry Journal, Limited and Century Press and

Publishing Limited

Introduction

1. On the 1st of December 2003 the Competition Authority, in accordance with

Section 18 (1) of the Competition Act, 2002 (“the Act”) was notified, on a

mandatory basis, of a proposal whereby Local Press Limited, a new investee

company of 3i Group plc (3i), would acquire the publishing companies The Derry

Journal, Limited and Century Press and Publishing Limited from the Trinity

Mirror plc (Trinity Mirror) group.

The Parties

2. 3i is a venture capital and private equity company that has investments in, inter

alia, software and IT services, healthcare and childcare, real estate, textiles,

frozen foods, general retail, security, building materials, engineering and

machinery.

3. Trinity Mirror is a newspaper publisher, whose subsidiaries, The Derry Journal,

Limited and Century Press and Publishing Limited, publish a number of regional

newspapers, including the Derry Journal, the Donegal Democrat and the

Letterkenny Listener.

Analysis

4. 3i does not carry on business in Ireland in the area of publishing, with the

exception of an insignificant amount of French-language newspapers. Therefore,

there is no significant overlap in the parties’ activities. Accordingly, the

proposed transaction does not give rise to competition concerns.

Determination

The Competition Authority, in accordance with Section 21(2) of the Competition Act,

2002, has determined that, in its opinion, the result of the proposed acquisition will

not be to substantially lessen competition in markets for goods and services in the

State and, accordingly, that the acquisition may be put into effect.

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