Merger Control in Iceland – a report by the Business Council

The Icelandic Chamber of Commerce convened a seminar at Kjarvalsstofa last Tuesday, where the Chamber presented an analysis of merger control and a report published on the same day. The meeting featured a useful panel discussion, in which the Competition Authority participated.

In light of the report, the Competition Authority has now published Report no. 5/2025 – On a winding road or a straight path? The Competition Authority's report on merger control and the report of the Business Council of Iceland . The publication summarises information on the handling of merger cases and responds to information and conclusions in a report by the Business Council which do not provide an accurate picture of merger investigations in Iceland.

The regulator's report contains a discussion of the efficiency and operation of merger cases in recent years, which sheds light on the following:

• Icelandic companies (customers and competitors of the merger parties) are active participants in merger investigations, and their views often prompt more detailed investigations into proposed mergers.
• Turnover thresholds, which determine which mergers must be notified to the Competition Authority, must take into account protective interests.
• The authority to call for merger notifications is clear in Icelandic law.
• It is natural for the proportion of components in merger cases to be high in comparison with larger countries.
• The majority of merger investigations are short, and time limits are rarely fully utilised.
• Pre-notifications increase the efficiency of merger control.