The UK OFT accepts commitments offered by a party to a completed acquisition in lieu of referring the case to the Competition Commission (Vue Entertainment International / Apollo Cinemas)

In May 2012 Vue Entertainment International Limited ("Vue") acquired sole control of Apollo Cinemas Limited ("Apollo"). In its decision of 24 August 2012 published in October 2012 [1], the Office of Fair Trading ("OFT") stated that the acquisition had resulted or may be expected to result in a substantial lessening of competition ("SLC") in cinema film exhibition services in four local markets. To address the OFT's competition concerns, Vue offered to divest its interest in the Apollo Cinemas in relation to fourproblematic areas. Due to the risk profile of the proposed remedy, the OFT required as a reasonable and proportionate remedy an up-front buyer. On this basis, the OFT suspended its duty to refer the acquisition to the Competition Commission under section 22 of the Enterprise

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Kyriakos Fountoukakos, The UK OFT accepts commitments offered by a party to a completed acquisition in lieu of referring the case to the Competition Commission (Vue Entertainment International / Apollo Cinemas), 24 August 2012, e-Competitions August 2012, Art. N° 51264

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