Alleged breach of competition law by Símenn hf., Noona Labs ehf. and Noona Iceland ehf.

An interim decision was taken on 12 July 2024 concerning the likely breach by Síminn hf., Noona Labs ehf. and Noona Iceland ehf. of the prohibition on carrying out a merger before the Competition Authority has taken a position on it. The acquisition of all of Noona's shares by Síminn had been notified to the Competition Authority, but a complete notification was received by the authority on 4 July. The Competition Authority's review of the merger was therefore only just beginning. 

In the opinion of the Competition Authority, data and information at the Authority's disposal indicated that the merger parties had already begun marketing to new customers based on the merger, but Síminn will take over all of Noona Labs' domestic operations through the acquisition of Noona Iceland (hereinafter collectively referred to as Noona). The data also indicated that Noona had acquired new customers as a result of this marketing. 

In EU/EEA competition law and Icelandic law, emphasis is placed on the fact that merging companies do not carry out a merger until the competition authorities have had the opportunity to lawfully investigate its competitive effects. This is important because, by its very nature, damage can be caused to customers or competitors if a merger is carried out before the competition authorities have had an opportunity to intervene, if necessary.

The interim order stipulated that Síminn and Noona must cease all marketing based on the merger.