Ardian's acquisition of all shares in Míla ehf. from Síminn hf.

Funds owned by the French fund management company Ardian bought all the shares in Míla and notified the merger to the Competition Authority. The matter concerns all the main wholesale telecommunications markets in Iceland and, where applicable, the retail market. 

The Competition Authority issued an objection notice on 1st. July 2022, regarding the potential adverse effects of the merger, mainly due to a long-term wholesale agreement between the seller of Síminn and Míla, but also due to the transfer of telecommunications systems shortly before the merger because of the transaction that changed Míla's position. The merging parties proposed and agreed to undertake commitments, mainly concerning changes to the long-term wholesale agreement and behavioural conditions. The case was closed with a settlement on 15 September 2022. 

The independent monitor for the settlement of the case is Gudmundur Gunnarsson (gg@raftel.is).