The Norwegian Competition Authority is considering the intervention in the Schibsted acquisition. The Authority believes that the acquisition could weaken competition in the market for online distribution of used cars and give consumers a poorer offer.
Both Schibsted and Nettbil offer both services in arranging the purchase and sale of used cars through online platforms. Schibsted owns the marketplace Finn, while Nettbil offers an online auction solution for used cars sold from private individuals to car dealers.
The parties have today been notified that the Norwegian Competition Authority is considering stopping the acquisition.
– The Norwegian market for online distribution of used cars has few players with Finn as by far the largest player in Norway. Nettbil is a newer player in the market that has had strong growth in recent years. It is the Competition Authority’s opinion that the acquisition removes the increasing competitive pressure Nettbil exerts on Finn, says department director Gjermund Nese.
Through the business combination, the market for online distribution of used cars will be further concentrated.
The Norwegian Competition Authority emphasizes that the current notification of possible intervention is not a final decision.
According to the Competition Act, the companies now have 15 working days to comment on the Norwegian Competition Authority’s assessments in the notification. The Authority then has 15 working days to make a final decision in the case.