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The decision to merge Oslo Børs Holding ASA and VPS Holding ASA was approved by extraordinary general meetings of both companies held on 11 June 2007. The Norwegian Competition Authority has made comprehensive assessments regarding the merger, and has today announced that it will not intervene against the merger.
"We are very satisfied with the Competition Authority's decision, and we are very pleased that this brings us a step closer to realising the merger of Oslo Børs and VPS. We provided evidence to the Authority to show that the merger will not restrict competition. We will continue to develop and offer efficient and competitive services to our customers. We look forward to carrying this out through the merged Oslo Børs VPS Holding,” comments Bente A. Landsnes, President and CEO of Oslo Børs.
Oslo Børs, VPS and VPS Clearing will follow the European Code of Conduct for Clearing and Settlement that has been introduced to improve the efficiency of the market for trading in securities.
The merger is still conditional on approval by the Norwegian Ministry of Finance.
The Competition Authority has issued a press release in this respect today. The press release is available at www.konkurransetilsynet.no.
