The Federal Antitrust Service (FAS) has approved the purchase by outdoor advertising operator Russ Outdoor (83% owned by Stinn LLC) of its competitor Gallery. This is indicated in the service message.
“The Russian Federal Antimonopoly Service considered the application for the acquisition of 100% of the authorized capital of LLC Media-1 Outdoor by OOO Stinn and approved it. The scope of outdoor advertising in the single advertising market in 2022 amounted to about 8%. Therefore, the transaction will not lead to the establishment of Stinn LLC’s dominant position in the single advertising market,” the FAS said in a statement.
It is also noted that the buyer agreed to some restrictions. The company will not raise the prices of the services until the end of the year. The company also undertakes to provide documentation to the FAS in case of complaints from market participants.
In addition, Steinn will be required to develop and publish a pricing mechanism within a quarter of the purchase. In cities with a population of less than half a million people, the company will be required to install banners as part of existing contracts.
As Vedomosti previously reported, another major outdoor advertising operator, Maer, has also applied to buy Gallery.
Author:
Natalia Gormaleva
Source: RB
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