September 20 (SeeNews) - Romania's anti-trust authority said on Tuesday that it is looking into the agreed takeover of electronic communications company Ines Group by Cloudsys Telecom, a company operating in the same industry.
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 antitrust body said in a statement.
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Cloudsys Telecom was established in 2001 and operates in the telecommunications sector. In 2021, the company registered a net profit of approximately 11.3 million lei ($2.3 million/2.3 million euro).
Ines Group is a Romanian telecommunications operator founded in 1993. At end-2021, the company employed 63 people and had a net profit of 1 million lei.
(1 euro=4.9313)