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Citadele Bank intends to acquire 12.5% of Mobilly's mobile phone service provider, according to information published by the Competition Council.
The Competition Council announced that on November 14, 2018, a report was received on a transaction whereby Citadele Bank would own 12.5% of Mobilly's shareholders, thereby gaining decisive influence over the company's capital, as well as than the current majority of Mobilly's majority shareholders.
The Competition Council must decide, within a period of one month from the date of receipt of the report, to authorize, prohibit or authorize the merger with binding rules. or to undertake additional research. If the case requires further research, the decision-making period may be extended by four months from the date of receipt of the report.
Companies that could give a meaningful and motivated opinion on the impact of the market and competition in the proposed concentration are invited to contact the Competition Council.
In order to protect the trading information of the merging parties on their business plans, only the names of the companies involved in the merger transaction are published on the Competition Council's website.
Currently, according to Firmas.lv, 30.43% belong to Normund Berg, 26.85% to Jānis Bergs, 23.22% to Uldis Pabriks, 10.49% to the ZGI-3 alternative investment fund. ", 5.37% – for the blessed Slavs and 3.64% for SIA VVMV, whose owners are Vilis Vītols (10%), Marta Vītola (10%) and their children – Laura Bulmane (20%) Kristīne Klišāne (20%), Mara Hrgettiča (20%) and Vilis Vītols (20%) .Mobilly was registered in November 2003 and its capital is 476,860 euros.
Valdis Bergs, chairman of Mobilly's board of directors, said that with this deal, Mobilly was entering a new phase of development, which application customers would benefit from. "By working with Citadele Bank, we will be able to develop even more advanced financial engineering solutions.This agreement will not affect our cooperation with our existing customers.We will continue to provide ever better and more efficient services. practices and strengthen our leadership in customer service, "said Bergs.
Guntis Beļavskis, chairman of the board of directors of "Citadele", said the bank's mission was to modernize the banking sector and provide more opportunities for customers – make payments more convenient, faster and easier everyday. "By developing this investment in Mobilly, we have agreed to create new solutions for Mobilly and our customers that would make existing services more affordable and provide new opportunities and equipment for customers of both companies," said Belavskis.
Mobilly achieved last year a turnover of 961 191 euros, up 15.4% over 2016, but the profit of the company decreased by 5.2 times to reach 8032 euros . Mobilly offers mobile payments for goods and services in the territory of Latvia.
At the end of June 2018, the bank "Citadele" was the fourth largest bank in Latvia after the badets.
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