S.I. No. 56/1992:

PROPOSED MERGER OR TAKE-OVER PROHIBITION ORDER, 1992.

PROPOSED MERGER OR TAKE-OVER PROHIBITION ORDER, 1992.

I, DESMOND O'MALLEY, TD, Minister for Industry and Commerce, having considered the report of the Competition Authority under Section 8 (1) of the Mergers, Take-overs and Monopolies (Control) Act, 1978 (No. 17 of 1978), as amended by the Restrictive Practices (Amendment) Act, 1987 (No. 31 of 1987) and the Competition Act, 1991 (No. 24 of 1991), of its investigation of the proposed merger or take-over involving the following enterprises, that is to say Independent Newspapers plc and the Tribune Group, being the proposed merger or take-over of which I was notified under Section 5 of the first-mentioned Act on the 22nd day of January, 1992, having complied with Section 9 (3) of the said first-mentioned Act, and thinking that the exigencies of the common good so warrant, hereby, in exercise of the powers conferred on me by Section 9 of the said Mergers, Take-overs and Monopolies (Control) Act, 1978 , as adapted by the Industry, Trade, Commerce and Tourism (Alteration of Name of Department and title of Minister) Order, 1986 ( S.I. No. 41 of 1986 ), make the following Order:

1. This Order may be cited as the Proposed Merger or Take-over Prohibition Order, 1992.

2. In this Order--

"the take-over" means the proposed merger or take-over involving the following enterprises, that is to say, Independent Newspapers plc and the Tribune Group consisting of Tribune Newspapers plc and Tribune Publications plc, of which the Minister was notified pursuant to Section 5 of the Mergers, Take-overs and Monopolies (Control) Act, 1978 (No. 17 of 1978) on the 22nd day of January, 1992.

3. The take-over is hereby prohibited.

4. The reasons for making this Order are that the Minister considers that if the take-over were effected, it would operate against the common good, and, that in particular competition in the market for Irish Sunday newspapers and, to a lesser extent, in the markets for all Sunday newspapers and for advertising in all Irish newspapers could be so restricted as to operate against the common good.

GIVEN under my Official Seal, this 30th day of March, 1992.

DESMOND O'MALLEY,

Minister for Industry and Commerce.

EXPLANATORY NOTE.

The effect of this Order is to prohibit the proposal whereby Independent Newspapers plc would increase its shareholding in the Tribune Group from 29.99 per cent to a possible 53.09 per cent.

The Order is effective from the date of its signature but may be annulled by a resolution of either House of the Oireachtas within 21 sitting days in either case.