At its meeting on 2 February, the Competition Council revoked its earlier decision of 17 December 1999 (Decision No. 44/1999) not to take action regarding the takeover of the company Ágæti hf., which handles the import and wholesale distribution of fruit and vegetables, by Grænmeti ehf. The Competition Council concluded that Búnaðarbanki Íslands, Sölufélag garðyrkjumanna and Grænmeti ehf. had knowingly provided false information in connection with the 1999 acquisition, and that it had subsequently emerged the Council's decision was based on incorrect premises. The Competition Authority will refer a complaint to the police regarding the incorrect information.
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