PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
CCENT/2009/40 - Barclays / Activos CITI
Acquired
Assets CITI
Description
The activities in question consist of the issue of credit cards for individual consumers and the products associated with them. They also include credit card related insurances, as the insurance intermediary.
Acquiring
Barclays
Description
is a member of the Barclays Group, a worldwide provider of financial services with a strong presence in the sectors covering retail and commercial banking, credit cards, investment banking, wealth management, and investment management services;
Sector
  • Banking, Financial and Insurance activities
Activity (NACE)
  • K64 - Financial service activities, except insurance and pension funding
  • K66 - Activities auxiliary to financial services and insurance activities
Applicable legislation
Art. 9(1)(b) (Law 18)
Notification thresholds
Turnover
Type of merger
Horizontal
Cooperation with sector regulators
  • ASF - Insurance and Pension Fund Supervisory Authority
  • BdP - Bank of Portugal
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Case description
Notified on 6 October 2009, this merger operation consists of the acquisition, by the undertaking Barclays Bank PLC, via its subsidiary in Portugal ("Barclays"), of the credit card business of the Portuguese subsidiary of Citibank international Plc ("CITI Assets").
Timeline
2009-11-05
COMPETITION AUTHORITY authorises Merger No. 40/2009 - BARCLAYS/CITI Assets
2009-10-13
Publication of the announcement
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