The Office of Competition and Consumer Protection (UOKiK) has approved the takeover of Neonet by x-kom.
The chain of retail stores – Neonet – offering electronic equipment has been on the Polish market for over 20 years. It seemed that during this time it had consolidated its position. Therefore, last year’s information about the financial problems faced by the chain of stores was received with great surprise. As a result, in November 2023, representatives of the chain informed about the submission of two applications simultaneously: to initiate restructuring proceedings and to declare bankruptcy. By decision of the court, restructuring proceedings were opened. As part of the remedial actions taken, employment was reduced and unprofitable stores were closed. In turn, in October this year, information was made public about the signing of an investment agreement between representatives of Neonet and x-kom. This resulted in an application to the Office of Competition and Consumer Protection (UOKiK) for consent to the takeover of Neonet. A few weeks ago, a decision was made to finalize the transaction. In this way, one of Neonet’s current competitors will soon become its owner.
Source: https://businessinsider.com.pl/biznes/siec-x-kom-przejmuje-neonet-uokik-daje-zielone-swiatlo/n87v8y0
