By letter dated 24 November 2006, the Competition Authority requested a merger notification regarding the acquisition by the Savings Bank of Siglufjörður of Glitnir's branch in Siglufjörður, as the notification of the transaction was then available on the Bank's website. Following several exchanges of correspondence, the merger notification for the transaction was received by the Competition Authority on 24 July 2007. The Competition Authority's investigation did not suggest that competition would be distorted as a result of the merger, as the branches of the savings bank and Glitnir in Siglufjörður were unviable in their then-operating form. The Competition Authority therefore saw no reason to take action regarding the merger.
Decision No. 61/2007.
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