The antitrust stops the acquisition of Moby Lines by MSC. The Italian-Switzerland Navigation Company founded by Gianluigi Aponte made it known that he had given up on the acquisition of the company specialized in passenger transport via ferry.
The decision came later the investigation of the AGCM last November, which reported “possible violations of article 101 of the Treaty on the functioning of the European Union”, a rule that prohibits anti -concurrence behaviors and abuse of dominant position.
The routes
Among the routes that ended under the antitrust lens for possible anti -aconingary conduct there are those for the Sardinia:
- Civitavecchia-Olbia;
- Genoa-Olbia;
- Genoa-Porto Torres.
Thus, to prevent the AGCM investigation from leading to a penalty, MSC has given up to acquire Moby and will cease the share of 49% to the Onorato group (which takes its name from the founder Achille Onorato). Moby, for its part, will return to MSC the financing of 243 million euros received in December 2023.
Because the antitrust has stopped the negotiation
In detail, the AGCM reported the risk of “restriction of the competition“In maritime transport in the Mediterranean in the case of Moby’s acquisition of MSC. In the document, reference was made in particular to large fast ships (GNV), a navigation company controlled by MSC through the Holding Sas – Shipping Agency Services.
Writes AGCM:
The markets in which Moby and GNV operate are extremely concentrated and characterized by the presence of a small number of companies (…) in this context, the creation of a strong structural link between Moby and GNV, descending from the operation of acquiring the participation of 49% of SAS in the capital of Moby, could produce a deterioration of the competitive dynamics on the interested markets, in violation of the article 101 tfue. In particular, the acquisition of a minority participation of Sas in Moby could facilitate, also through contacts between the parties, the coordination of their respective commercial policies.
Furthermore, according to the antitrust, the acquisition of a minority participation of Sas in Moby could also reduce competition in the markets where GNV and Moby compete with Grimaldi, being able to favor the emergence of a collusive balance to the detriment of consumers.
The history of the acquisition
The history of the MSC-Moby acquisition has its roots in 2012, when the Italian Navigation Company, controlled by the Onorato group, already owner of Moby, acquired Tirrenia from the state for 380 million euros, to be paid in several installments.
However, Moby was unable to complete the payment and, in 2020, presented request for composition with creditors to the Court of Milan. It is in this context that, in March 2022, MSC intervened, signing an agreement with the Onorato group to acquire 49% of Moby, paying 150 million euros. The operation was formalized in September 2023 and, in the following December, MSC granted Moby an additional financing of 243 million To accelerate the conclusion of the Concordat.
The operation aroused the opposition of the Group Grimaldiwhich presented reports and appeals to the AGCM. On November 13, 2024 the Antitrustust started an investigation on Moby, GNV and Shipping Agency Services, to check for any restrictions on the competition. In particular, the investigation focused on the links between Moby and GNV, revealing that these two companies operated almost exclusively on three routes in Sardinia. For this, to avoid possible sanctions, MSC has decided to abandon the purchase.
What happens now
STORA concluded, then? In reality, no, because before archived the file, the antitrust has established a public consultation, which will take place in two phases: by August 16th The observations of the other market operators on these commitments must arrive (and it is possible that Grimaldi will return to the game) and by 15 September 2025 any representations of the companies concerned on the observations received may arrive.
