Swedish banks receive EU Commission´s Statement of Objections

Swedish banks receive EU Commission's Statement of Objections FöreningsSparbanken and SEB have now received the EU Commission's Statement of Objections concerning the competition aspects of the proposed merger between the two banks. On 12 July, 2001 the Commission announced its decision to start an in- depth investigation of the proposed merger between FöreningsSparbanken and SEB. The Commission's competition authority has now investigated and analysed the competition in the Swedish banking business, and has in a Statement of Objections expressed its objections to the proposed merger in certain areas and the motives therefore. The banks will now analyse the document - which is not intended to be made public by the banks or by the Commission - and subsequently tender their comments to the Commission. In parallel, the banks are conducting a dialogue with the Commission in order to identify the remedies required for a competition clearance of the deal. Possible remedies must be filed with the Commission by 16 October. The Commission's final decision on the merger is due in mid-November. The proposed merger is intended to be put before the shareholders at Extraordinary General Meetings in the two banks, which are planned for the last quarter of this year. For further information please contact: Staffan Salén, Executive VP and Head of Information and Investor Relations, FöreningsSparbanken, phone +46 (0)8 585 927 79 or +46 (0)70- 531 01 11 Gunilla Wikman, Head of Group Communications SEB, phone +46-8-7638125 or +46-70-763 81 25 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/12/20010912BIT00060/bit0002.doc http://www.waymaker.net/bitonline/2001/09/12/20010912BIT00060/bit0002.pdf