17.2.2023 08:43:11 CET | Schibsted | Non-regulatory press releases

In a verdict handed down by the Norwegian Supreme Court today, Schibsted has won
the so-called Nettbil case, a case that has been ongoing since the Norwegian
Competition Authority decided to prohibit Schibsted's acquisition of Nettbil in
2020. Thus, the Supreme Court - like the Court of Appeal - confirms that there
was no basis for the Norwegian Competition Authority to intervene against the
transaction.

"We are incredibly happy that this case now has a final outcome. It has been
going on for a long time, and clearly the uncertainty has affected both
Nettbil's employees and growth opportunities, and how Schibsted has been able to
exercise its ownership in the company. The ruling is not only important for us,
it is important for all startups with growth ambitions - and for investors who
can help them scale. Now we choose to look forward, and are enthusiastic about
setting the pace together with Nettbil's skilled management and all employees in
the company," says Kristin Skogen Lund, CEO of Schibsted.

In November 2020, the Norwegian Competition Authority decided to prohibit
Schibsted's acquisition of the digital used car marketplace Nettbil. This was
later confirmed by the Competition Appeals Tribunal. Schibsted then chose to
submit the case to court, and it became the first merger case that has been the
subject of judicial review in Norway. In March 2022, the Gulating Court of
Appeal overturned the decision of the Tribunal, a decision the Competition
Authority chose to appeal to the Supreme Court. Now the Supreme Court has
concluded in the matter, and the ruling announced today finally confirms that
competition rules do not prevent Schibsted from taking ownership of Nettbil. 

"The Supreme Court ruling confirms what has been our view all along