POLAND - Two joint ventures between the UK's Aviva and Polish bank Bank Zachodni WBK S.A have been approved by the European Commission, following an investigation into whether their combined asset and pension fund management activities would impact on competition in the Polish market.
The investigation indicated, as far as the Polish insurance market was concerned, the parties would have combined market shares below 15%.
Regarding asset and pension fund management Aviva and Bank Zachodni would have combined market shares between 20% and 30%.
However, the market investigation did not indicate any competition concerns and the commission concluded the operation would not significantly impede effective competition in the European Economic Area or in any substantial part of it.
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