March 11, 2020 / 12:58 PM / 22 days ago

Norway must alter finance industry ownership rule -ESA

OSLO, March 11 (Reuters) - Norway’s rule that non-financial firms can only own up to 20-25% of financial companies violates the country’s commitment to the free movement of capital, as well as the right to establishing a business, competition watchdog ESA said on Wednesday.

Norway now has two months to comply with the decision, ESA, also known as the EFTA Surveillance Authority, said in a statement. (Reporting by Terje Solsvik, editing by Victoria Klesty)

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