Groupe Eurotunnel Reacts to the CMA’s Preliminary Decision to Stop MyFerryLink’s Activity

Regulatory News:

Two years after the acquisition of 3 ferries and following the decision of the Appeal Tribunal, which rejected the original decision by the Competition Commission, Groupe Eurotunnel (Paris:GET) submitted to the Competition and. Markets Authority (CMA) that a material change of market had occurred, based upon the 12% growth since SeaFrance ceased its operations.

Groupe Eurotunnel believes that, when stating that there has been no material change, the CMA simply seeks to justify the Competition Commission's original analysis, despite the change in the facts relating to the market:

• Market growth has been far greater than the 2% predicted by CMA,
• DFDS continues to operate successfully in the market, whereas the Competition Commission's original decision was based on the premise that DFDS would rapidly be forced to exit the market.

Groupe Eurotunnel believes that the CMA's preliminary decision is based upon an erroneous analysis of the significant changes in the cross Channel Ferry market since the Competition Commission's original findings relating to the market in 2012.