CELEX: 32016M8188
Language: en
Date: 2016-09-13 00:00:00
Title: Commission Decision of 13/09/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8188 - POSTFINANCE / SIX / TWINT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 13.09.2016
                                        C(2016) 5902 final

                                        [pic]

                                        To the notyfing parties:

Dear Sirs,

Subject:    Case M. 8188 - POSTFINANCE / SIX / TWINT
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 19/08/2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which PostFinance AG (“PostFinance”, Switzerland), controlled by Die Schweizerische Post AG, owned by Swiss Confederation, and  SIX  Payment
    Services AG, controlled by Six Group AG (“SIX”, Switzerland), acquire within the meaning of Article 3(1)(b) of the Merger  Regulation  joint
    control of Twint AG (“Twint”, Switzerland), currently controlled by PostFinance, by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

  • PostFinance offers a variety of financial services including financial transactions and inter-bank  services.  In  particular,  it  provides
    arrangements for direct debit and e-billing for its e- and m-banking customers and for users of Electronic Data Interchange.

  • SIX manages the Swiss financial market infrastructure and offers services in the areas of  securities  trading,  financial  information  and
    payment transactions.

 3. After examination of the notification, the European Commission has concluded that the notified operation  falls  within  the  scope  of  the
    Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment  of  certain  concentrations  under
    Council Regulation (EC) No 139/2004.[4]

 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose  the  notified  operation
    and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b)
    of the Merger Regulation and Article 57 of the EEA Agreement.

                                        For the Commission

                                        (Signed)
                                        Johannes LAITENBERGER
                                        Director-General

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[1]   OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on the Functioning of the  European  Union
    ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market'  by  'internal  market'.  The
    terminology of the TFEU will be used throughout this decision.
[2]   OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement').
[3]   Publication in the Official Journal of the European Union No C 311, 26/08/2016, p. 5.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE