January 18 (SeeNews) - Bosnia's Competition Council said it has approved the acquisition of a majority shareholding interest in local insurer Zovko Osiguranje by its peer Bosna Sunce Osiguranje.
The Competition Council has adopted a decision that allows the acquisition of Zovko by BSO on the non-life insurance market, it said in a statement earlier.
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Bosna Sunce had a 10.56% market share in Bosnia's Federation entity at the end of October and a 7.30% share on the market of the country as a whole. Bosnia's other entity is the Serb Republic.
In December, BSO said it will absorb Zovko Osiguranje after acquiring a 100% shareholding interest in the company.