The Competition Commission has approved TBC Group’s acquisition of OLX subject to certain conditions. In particular, according to the committee’s requirements, it is not possible to unilaterally and unjustifiably influence the terms of service for OLX users through digital platforms under the control of TBC Bank Group. It is also prohibited to use the collected or processed data for the purpose of restricting competition.
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The Competition Committee, after reviewing the economic concentration agreement for the acquisition of 100 percent share in the share capital of OLX Classifieds by Tapuz Limited, a company registered in the UAE, agreed.
During the analysis conducted by the committee It is taken into account that TBC Bank Group PLC, the main shareholder of Tapuz Limited, indirectly owns TBC Bank Uzbekistan digital commercial bank and Payme payment service in Uzbekistan. Also, Payme and OLX Classifieds are included in the list of companies with a dominant position in the field of digital platforms. At the same time, the committee found that Tapuz Limited does not have a share in the authorized funds of other online advertising platforms in Uzbekistan.
“According to the results of the analysis carried out by the Special Commission of the Committee, a decision was made to approve the economic concentration agreement in advance, with a number of mandatory requirements aimed at maintaining the competitive environment and protecting the interests of consumers,” the report said.
to TBC Bank Group the following requirements are imposed:
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not to unilaterally and unjustifiably affect the terms of use of the service for current and future users of the digital platform “OLX” through digital platforms under the control of “TBC Bank Group PLC”;
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In the use of data collected or processed through the “OLX” digital platform, as well as “TBC bank” ATB and “Payme” JSC not to use or disclose personal or commercial information about customers of commercial organizations competing with them for the purpose of restricting competition, not to abuse a dominant position, and to provide measures not to discriminate against consumer rights;
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Not forcing users to use only Payme or TBC Bank applications when paying for OLX services and creating equal conditions for other payment services;
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Full compliance with competition law requirements.
