Festi has today requested settlement talks with the Competition Authority regarding an investigation that is currently underway. The investigation concerns possible breaches by Festi hf. of the conditions in an agreement the company entered into with the Competition Authority on 30 July 2018 regarding the merger of N1 hf. and Festi hf., the merger and the reason for the settlement are discussed in more detail in the decision of the Competition Authority No. 8/2019.
Under Article 17(f) of the Competition Act, the Competition Authority is authorised to enter into a settlement with an undertaking to conclude proceedings. The Competition Authority has therefore agreed to begin discussions with Festi to determine whether the conditions are right to conclude the case by settlement.
Festi has published notification on the stock exchange regarding the above.
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