The Lithuanian Competition Authority fines security services provider and three banks for anticompetitive agreements concerning cash handling and cash-in-transit services (G4S / DNB / SEB bank / Swedbank)

The Lithuanian Competition Council (the Council) imposed a total fine of over EUR 16 million on G4S Lietuva (G4S), a provider of security services, and three major banks in Lithuania - DNB bank, SEB bank and Swedbank (collectively - the Banks) – for vertical agreements restrictive of competition in the markets for cash-in-transit and cash handling services in Lithuania, contrary to Article 101 TFEU and its national equivalent [1]. The Council opened its investigation following a complaint from Eurocash1, which was the only actual competitor to G4S on the relevant markets concerned during the period subject to the investigation. Having concluded its investigation, the Council decided that under the agreements between G4S and the Banks the latter had effectively committed to buying cash