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The Norwegian Competition Authority issues its first fine for breach of the new standstill obligatio

March 2009 - EU & Competition. Legal Developments by Wikborg Rein.

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On 4 February 2009 the Norwegian Competition Authority announced that it has issued its first fine ever for implementing a transaction before it has been cleared. The Norwegian shipbroker RS Platou was fined for having implemented its acquisition of control of Glitnir Securities, a Norwegian subsidiary of the Icelandic banking group, before the transaction was notified to the Competition Authority.

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