GVH launches probe over incongruities in press release
Hungaryʼs Competition Office (GVH) on Wednesday said it had launched a procedure to clarify disparities between market shares in an application for acquisition approval and a press release issued after the transaction was cleared, Hungarian news agency MTI reports.
GVH acknowledged that it had approved Hungarian-owned poultry company Master Goodʼs acquisition of local, U.K.-owned peer Sága in December. But it said descriptions of market share in a press release sent to MTI on Monday were at odds with those in the application for clearance of the transaction.
According to the press release, Master Good controls more than 40% of the Hungarian market for poultry and poultry processing, while Sága is referred to as "market leader in Hungary for processed poultry products", GVH said.
GVH has 60 days to complete the probe and determine whether information in the application for approval was deceptive.
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