March 29 (SeeNews) - Romania's competition authority said on Tuesday that it will analyse the agreed takeover of local lender Porsche Bank Romania by local IT&C entrepreneur Dan Ostahie.
In order to determine whether the concentration is compatible with the normal competitive environment, the Competition Council will consider the notified transaction under the merger regulation, the Competition Council said in a statement.
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Porsche Finance Group Romania is the local subsidiary of Porsche Bank A.G. It operates in Romania on the financial-banking services market through Porsche Bank Romania and Porsche Leasing Romania IFN, whose predominant activity is lending - mostly in the form of consumer loans and car leasing.
Dan Ostahie controls local Altex Group. Established in 2000, the group comprises IT&C and electronics retailer Altex Romania, Complet Electro Serv, consumer loan company Credex, auto dealer Auto Moldova and software developer Axsys Business Technologies.