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XLCEE-Holding wins reduction on fine levied for failure to meet merger condition, Czech watchdog says

( February 8, 2024, 12:35 GMT | Official Statement) -- MLex Summary: Austrian furniture chain operator XLCEE-Holding has seen a fine of over 20 million koruna imposed on it last year by the Czech competition agency reduced to 324,000, the authority said today. In order to obtain exclusive control of Kika Nábytek and Lambda Properties Czechia, the company agreed to sell a retail store. They were unsuccessful in doing so during the Covid-19 pandemic. Following an appeal by the company, the office took into account that the situation during the pandemic was particularly severe and decided to lower the fine. XLCEE-Holding operates furniture and home accessory retail stores under the XXXLutz and Möbelix brands.Statement follows (in Czech). ...

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