Decision Of The Lithuanian Competition Authority Regarding Vilnius Akropolis Cinema

(MENAFN- GlobeNewsWire - Nasdaq) On 06.10.2026 the Lithuanian Competition Authority refused to accept the application of the company's parent company MM Grupp OÜ (MMG) to resolve the acquisition issue of the cinema located in the Vilnius Akropolis center by granting a merger clearance.

This is a side episode in the main dispute between MMG and the Authority, which is pending in the Lithuanian court, concerning the acquisition of the Vilnius Akropolis cinema and the Kaunas cinema by MMG, and the reason for which is the surprising and retroactive illegal change of the established practice by the Authority. MMG sold both acquired cinemas to the company, from which the Vilnius cinema is currently operated by the company, and regarding the Kaunas cinema, the transaction between the company and MMG was reversed in order to mitigate the company's risks.

On 28.10.2026, the Authority ruled that MMG acquired these 2 cinemas without a merger permit and must now apply for a merger permit retrospectively. MMG challenged the Authority's decision in court, because the acquisition did not require a merger permit and in parallel submitted a merger application to the Authority regarding the Vilnius cinema in order to resolve the Vilnius cinema issue more quickly (the litigation will take years).

Now the Authority has refused a faster solution regarding the Vilnius cinema, and the issue regarding both cinemas remains for the court to decide.

Additional information:
Toomas Tiivel
Chairman of the Management Board
+372 550 5285

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