Batt O'Keeffe
Question:165 Mr. B. O'Keeffe asked the Minister for Enterprise and Employment if he is concerned with the invasion of UK multiples in the Irish retail market. [17827/95]
Written Answers. - UK Multiples.
As the Deputy will be aware, there has been considerable speculation that UK multiples have been considering entering the Northern Ireland retail market and possibly the Republic of Ireland market.
To date, I am not aware of any specific developments in regard to the Republic of Ireland market. However, were any of the UK or indeed any other multiples to consider acquiring an Irish retail operation, such an acquisition would be likely to fall within the scope of the mergers and take-overs legislation and, accordingly, would require notification to me. In examining a proposed merger or take-over, I have regard to whether the proposed merger or take-over concerned would be likely to prevent or restrict competition or restrain trade in any goods or services and would be likely to operate against the common good.
From a general competition point of view, my concerns are that markets for goods and services throughout the Irish economy should be competitive, that competition should be fair and that consumers should share in the benefits of competition through greater choice, improved quality of product and lower prices in particular.
I would add that, in line with the policy agreement for Government, I propose to strengthen competition law, through the Competition (Amendment) Bill, 1994, by giving the Competition Authority powers of enforcement and by enabling the Courts to impose stiff fines on those found to be engaging in unfair competition. I intend to seek to have the Bill enacted at an early date.
The Deputy will also be aware of my decision earlier this year to retain the Restrictive Practices (Groceries) Order, 1987 for a period of two year.