In this article, we discuss the main merger control decisions taken by the ACM in 2024, at least those decisions where the ACM deemed more investigation necessary or approved commitments to allow the merger.
Acquisition of DWP and Vierhouten by Foresco requires second phase investigation
In early 2024, Foresco Packaging N.V. ("Foresco") expressed its intention to acquire sole control over D.G. de With Ermelo B.V. ("DWP") and Vierhouten Palletindustrie B.V. ("Vierhouten"). The ACM decided that more investigation was necessary in a second phase and that Foresco needed a permit for the acquisition, which it subsequently applied for .
Foresco, DWP and Vierhouten manufacture and sell various wooden pallets, packaging and wooden crates. According to the ACM, a takeover would therefore potentially lead to a strengthening of Foresco's current economic dominance, bearing in mind that Foresco is already by far the largest seller of new wooden pallets in the Netherlands. The acquisition is part of a series of acquisitions by Foresco since 2019. Therefore, the ACM wanted to investigate whether Foresco’s acquisition strategy could be qualified as a “stringing the beads” strategy, i.e. engaging in multiple smaller acquisitions in a relatively short time-span. On 21 February 2025, the ACM announced the granting of a permit for the acquisition. The permit decision had not yet been published at the date of publication of the Competition Courier.
Takeover of RTL Netherlands by DPG requires further investigation
DPG Media B.V. ("DPG") applied for permission to the ACM on 7 February 2024 to acquire RTL Nederland Holding B.V. and RTL Nederland Media Services S.A. (collectively: "RTL Nederland"). The ACM considers that further investigation into this concentration should be carried out in a second phase and DPG has therefore applied for a permit.
According to the ACM, the investigation is required because the creation of a media company with a large offering on television, video streaming, radio, newspapers and online news may have negative effects on competition. The ACM concludes that DPG's dominant position will be further strengthened. One example is the strengthening of its position as a provider of paid and unpaid general news, which may come at the expense of news quality. For dominance, the parties' ecosystem is also important. The data position that will be created as a result of the acquisition is strong, which may affect competitors' advertising revenues.
Acquisition of Youfone by KPN authorised
On 21 March 2024, the ACM decided that KPN B.V. ("KPN") may acquire Youfone Nederland B.V. and Youfone Zakelijk B.V. (collectively: "Youfone"). The ACM took this decision following its decision of 14 September 2023 that a permit, and thus further investigation, was required for this acquisition.
The ACM considers that the acquisition will not have a negative impact on competition in the markets for mobile telecommunications services, more specifically the national retail and wholesale markets. These markets distinguish between network operators ("MNOs"), which include KPN, Odido and VodafoneZiggo, and non-network operators ("MVNOs"), such as BudgetMobile and Youfone. Although, according to the ACM, Youfone has a relatively strong position as an MVNO, the concentration will not cause significant changes in the competitive dynamics in the retail market. This is partially because the average price increase due to the acquisition will remain limited. The ACM also expects little change in the wholesale market. In this market, MVNOs are particularly dependent on MNOs because of access to their network. There are therefore significant barriers for MVNOs to switch to another MNO's network. However, according to the ACM, MVNOs can indeed effectively threaten to switch, thereby maintaining KPN's incentive to provide access to its network. The ACM therefore decides to grant a permit for the acquisition.
Additional investigation needed for Delta takeover by Glaspoort
Glaspoort B.V. ("Glaspoort"), a joint venture between KPN and Drepana Investments Holding B.V. ("APG"), announced on 28 May 2024 its intention to acquire part of the fibre connections of DELTA Fiber Netwerk B.V.'s ("Delta") networks. Glaspoort was established to accelerate KPN's fibre strategy. According to the ACM, further investigation is required into this concentration, and the parties have subsequently requested a permit .
The ACM considers that there are risk in the acquisition because of the decline in competition between fixed telecom networks in the wholesale market. After all, Delta is KPN's largest fibre competitor in the Netherlands. Again, the ACM is worried that the acquisition could potentially be part of a "bead stringing" strategy, where KPN regularly makes smaller acquisitions to continuously increase its market position. Thirdly, the concentration potentially negatively affects the retail market for internet access because of the reduction of competitive pressure in this market due to deteriorated wholesale conditions. These conditions determine how keenly wholesale customers can compete in the retail market.
