Public consultation on Landsbankinn's acquisition of TM – Competition perspective sought

Landsbankinn hf. has notified the company's acquisition of TM hf. The acquisition entails a permanent change in control of TM and therefore constitutes a merger within the meaning of Article 17 of the Competition Act, which is subject to notification under Article 17a of the Act. The formal proceedings at the Competition Authority commenced on 20 September.

All stakeholders and other interested parties are hereby given the opportunity to submit views regarding the merger. By its nature, views are particularly sought on the potential effects of the merger on competition. Submissions may also, for example, relate to the markets in which the companies operate or to specific matters of significant competition concern contained in the merger filing. It is important that submissions are substantiated.

Both companies are well known to the nation and therefore do not need much introduction. 

• TM is the country's third largest general insurance company and also operates a life insurance business through its subsidiary, TM Life Insurance Ltd.
• Landsbankinn is the country's largest commercial bank and operates in numerous markets within the financial services sector. The bank offers a comprehensive range of financial services to individuals, businesses and investors. Its operations include deposit-taking, lending, market trading and asset management.

The merger register, which contains the companies' description of the merger, is available. here .

Reviews should be sent by email to gogn@samkeppni.is no later than Wednesday 2nd October – please note: the deadline has been extended. Enquiries regarding the merger investigation may be directed to halldor@samkeppni.is.