The Authority believes that the acquisition of the online car service Nettbil reduces competition in the market.
The case is being updated …
The Norwegian Competition Authority points out in a report that both Schibsted and Nettbil offer services within mediation of the purchase and sale of used cars through online platforms.
Schibsted-owned Finn offers advertising services to, among others, private individuals who want to sell a used car.
Nettbil has an online auction solution for used cars that are sold from private individuals to car dealers.
“The Authority believes that the acquisition could weaken competition in the market for online distribution of used cars and give consumers a poorer offer.”
– 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.
Schibsted owned 67.4 percent of Nettbil at the end of last year.
Fear fewer competitors
The Authority believes that the market for online distribution of used cars will be further concentrated with this acquisition.
– We fear that private individuals who want to sell their car on an online marketplace will have fewer competing players to choose from. Reduced competition in the market could lead to a poorer offer to consumers, for example through higher prices, reduced quality or weakened innovation, says project manager Therese Halvorsen.
The Norwegian Competition Authority emphasizes that the current notification of possible intervention is not a final decision.
The companies will now comment on the Authority’s assessments, before the Authority will make a final decision in the case. This will happen in about a month.
E24 is owned by VG, which is owned by Schibsted. Some journalists in E24 own shares in Schibsted through the group’s share savings program.