Hi All
Anyone got any views on PayPoint share price seems a little erratic over the last few days .
Yes there's been a good acquisition. However, I'm a little concerned about the Ofgem enquire
that hanging over their head.
"The Statement of Objections relates to certain contractual terms with certain
energy suppliers that confer exclusivity to PayPoint for over-the-counter
(OTC) payment services for prepayment energy customers in combination with
exclusivity in retailer arrangements. Ofgem’s provisional view is that these
practices constitute an abuse of a dominant position in relation to these OTC
payment services. Ofgem’s findings in the Statement of Objections are
provisional and Ofgem states that no conclusion should be drawn that there has
been an infringement at this stage."
"Ofgem's governing body, may impose a financial penalty on any business found to have infringed the Chapter II CA98 and/or the Article 102 TFEU prohibition of up to 10% of its annual worldwide group turnover. In calculating financial penalties, GEMA takes into account a number of factors including seriousness of the infringement(s), turnover in the relevant market and any mitigating and/or aggravating factors."
The parties have the opportunity to make written and oral representations in response to the case set out by Ofgem
This was back in September. To my knowledge there has been no response .
TC
