Breach by Íslandspóstur hf. of the conditions in Decision no. 8/2017, Measures to strengthen competitive conditions in the postal market

This decision describes a settlement reached by the supervisory authority with Íslandspóstur hf. concerning the company's breaches of the conditions imposed on it by decision no. 8/2017. Measures to strengthen competition in the postal market.

Under the settlement in question, Íslandspóstur admits to having breached the terms of its 2017 settlement with the Competition Authority and is required to pay a five million króna administrative fine as a result.

Pósthúsið Íslands's breaches relate to its former subsidiary, ePóstur ehf., and consisted, on the one hand, of Pósthúsið Íslands not having sought the approval of the Competition Authority before the operation of its subsidiary, ePóstur ehf. was transferred into Íslandspóstur and the merger of the companies was implemented, and secondly, for failing to review the terms of previously granted loan financing to ePóstur, despite it being clear that the terms were below the market rates enjoyed by comparable companies.