The Finnish Competition and Consumer Authority (FCCA) has initiated further proceedings concerning a transaction according to which Otavamedia Ltd is to gain control over Kirjavälitys Oy.
Otavamedia is part of the Otava Group, which is a large publisher of fiction, reference books, children’s and young people’s literature, teaching resources and periodicals in Finland. Kirjavälitys is a service provider owned by Finnish publishers and bookshops, which provides logistics, procurement and electronic services for the book industry.
Based on the FCCA’s preliminary investigations, the transaction could have a negative impact on competition in the book industry, as many competitors of Otava Group use the services of Kirjavälitys, which is to be controlled by Otavamedia.
Following these proceedings, the FCCA may approve the acquisition as such, attach conditions to the approval or request the Finnish Market Court to prohibit the acquisition. According to the Finnish Competition Act, these further proceedings may not take longer than three months.
The FCCA’s decision includes business secrets of the parties involved. The decision can only be published once all confidential information has been removed, which will take approximately two weeks.
Further information:
Hanna Kaiponen, Senior Research Officer, tel. +358 29 505 3620
firstname.lastname@kkv.fi