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2012-12-20 14:43:18 CET 2012-12-20 14:44:19 CET REGULATED INFORMATION SEB Bankas AB - Notification on material eventRegarding the decision of the Competition Council of the Republic of LithuaniaVilnius, Lithuania, 2012-12-20 14:43 CET (GLOBE NEWSWIRE) -- On 20 December 2012 the Competition Council of the Republic of Lithuania (hereinafter the Competition Council) adopted a decision whereby after considering all the circumstances under investigation has found AB SEB bankas and several other entities in breach of Article 5 of the Law on Competition, prohibiting anticompetitive agreements, and in view of the nature and the scope of the actions concerned, the agreements concluded between AB SEB bankas and several other entities have been found to have impact on the trade between the EU member countries and thus violate Article 101 of the Treaty on the Functioning of the European Union. The Competition Council imposed fines exceeding LTL 57 million on AB SEB bankas and several other entities for agreements which restricted competition in cash-in-transit (CIT) and cash handling services' markets. AB SEB bankas was imposed with a LTL 24 808 200 fine. SEB bankas will appeal the decision of the Competition Council. This notification is non-confidential. Raimondas Kvedaras, President of AB SEB bankas. 20 December 2012, Vilnius Arvydas Žilinskas, Head of Media Relations of AB SEB bankas, tel. +370 5 268 1198, is authorized to provide additional information regarding the material event. |
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