The Federal Antimonopoly Service (FAS Russia) granted a petition of Õ5 Retail Group N.V. on acquiring the rights, enabling to determine conditions of business activities of «Rusel» Ltd. Taking into consideration that the transaction can lead to competition restriction, FAS Russia issued a determination requesting Õ5 Retail Group N.V. to prevent actions that can result in restricting competition in St Petersburg, as well as to carry out the actions aimed at promoting competition in the retail market of food products in St Petersburg and the goods markets, where the group of persons of Õ5 Retail Group N.V. buys goods for resale in St Petersburg.
Timofei Nizhegorodtsev, the Head of the FAS Russia's Department for Control in Social Sphere and Commerce, said: «The determination set up a precedent for the industry and is an important addition to the law «On the Basis of Governmental Regulation of Commerce in the Russian Federation», currently being developed by the Ministry of Economic Development.
We are confident that the decision and determination will encourage the largest company operating on St Petersburg market to disclose its purchasing practices, and create additional opportunities for entering the network of producers and suppliers of agricultural products and offer more possibilities to suppliers for risk assessment and protection of their interests».
