FCCA approves acquisition of Nebula by Telia

The Finnish Competition and Consumer Authority (FCCA) approved on 7 June 2017 the acquisition of Nebula Top Oy by Telia Company Ab. The Finnish Competition and Consumer Authority has concluded that the acquisition will not significantly impede, as referred to in the Competition Act, effective competition in the Finnish market. The parties to the acquisition have overlapping business operations in the area of IT services provided to companies.

Telia, telecommunications company operating in the Nordic Countries and Baltic States, offers telecommunications services in landline and mobile networks to consumer customers. Telia is a public limited company registered in Sweden and the parent company of the Telia Group.

Nebula is a Finnish ICT and cloud service company that offers network, cloud and operating services to corporate customers.

The FCCA’s decision includes business secrets of the parties involved. The decision cannot be published until the business secrets have been removed, i.e. in around two weeks’ time.

According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover of at least two of the parties resulting from Finland exceeds 20 million euros for both.   FCCA approves a corporate transaction if it has no harmful impacts referred to in the Competition Act.  FCCA will intervene in corporate transactions if its investigations suggest that the acquisition may significantly impede effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.