Lithuania's Competition Council on Friday fined Estonian media group Ekspress Grupp a little over €140,000 for illegally acquiring Lithuanian news site Lrytas.lt.
The Council found that Ekspress Grupp violated the Law on Competition by acquiring Lrytas, the company controlling the lrytas.lt news website, without notifying the institution and obtaining its permission, LRT reports.
Ekspress Grupp announced on Friday that it will appeal the Competition Council's decision.
Group CEO Mari-Liis Rüütsalu said that the company wants the court to weigh the matter's legal side after which appropriate action will be taken, a statement published on Nasdaq Tallinn read.
If the ruling comes into force, Ekspress Grupp will have to apply for and obtain permission from the Competition Council for the transaction or sell its shares in the company that operates the lrytas.lt website.
Ekspress Grupp acquired the lrytas.lt news website through a newly established company in Lithuania for an undisclosed value in December 2022. Until then, the news website belonged to Lrytas.
Editor: Marcus Turovski