Asesoft Distribution fined by Romania's Competition Council

Romania's competition Council has applied a EUR 775,000 fine to Asesoft Distribution for having started the takeover of the IT distribution from Flamingo International before receiving the OK from the competition body. In Romania, companies must notify the Competition Council before going further with a merger or acquisition. IT&C distribution company Asesoft Distribution posted a turnover of EUR 145 million in 2010 and hopes it will reach EUR 165 million in 2011, the company has announced. Last year’s results reflected a 45 percent increase on the previous year. The company thus targets a 14 percent turnover increase on an IT&C distribution market which is expected to grow by 10 percent. The company bought IT&C retailer Flanco and online retailer Emag.ro. Asesoft, eMag.ro and Flanco have a cumulated volume of yearly sales estimated at USD 500 million. editor@romania-insider.com