The Supreme Administrative Court has upheld the Market Court’s decision to approve the acquisition by Fortum Power and Heat Oy of E.ON Finland Oyj in 2006. The Market Court found that the acquisition did not lead to the creation or strengthening of a dominant market position despite Fortum’s strong position on the electricity generation and wholesale market, since the relevant geographic market includes at least Finland and Sweden. Contrary to the Market Court’s view, the FCA had argued that the geographic market is at times only national due to cross-border transmission capacity constraints. Notably, Fortum had a right to appeal the FCA’s decision, although Fortum had previously approved the conditions on the acquisition imposed by the FCA.
For further information, please contact Ms. Lotta Pohjanpalo or Mr. Mikko Eerola.