Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

The notification concerns the contemplated merger of Vipps AS, MobilePay A/S and Pivo

(together "the Merging Parties") within the meaning of Article 3 (1) b cf. Article 3 (4) of the

Merger Regulation. The Merged Entity will be jointly controlled by DNB Bank ASA,

SpareBank 1 Betaling AS, Eika VBB AS and Balder Betaling AS (currently non-controlling

shareholders of Vipps), Danske Bank A/S (controlling owner of MobilePay), and OP

Cooperative (controlling owner of Pivo) (together "the Notifying Parties").

The Merging Parties are active in the payment services market, offering mobile payment

services adapted to a variety of different payment situations. The Notifying Parties are full-

service banks or holding companies owned by multiple non-controlling banks. Through the

contemplated transaction, the Parties aim to create a market player with sufficient

economies of scale and the financial ability to innovate and compete in the rapidly

developing European payment services market. The Merged Entity will continue to offer

payment services to both consumers and merchants on transparent and non-discriminatory

Terms.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.