Competition Committee clears TBC Bank Group to acquire OLX under strict antitrust conditions

During its assessment, the antitrust regulator took into account that the majority shareholder of Tapuz Limited is TBC Bank Group PLC. Through this structure, the parent group already indirectly owns TBC Bank Uzbekistan, a digital banking entity, and Payme, a widely used payment service. The committee also highlighted that both Payme and OLX are currently listed in the national registry of companies holding a dominant position in the digital platform market. Conversely, investigators verified that Tapuz Limited holds no stakes in any other online classified businesses within Uzbekistan.

 To prevent market distortion, the special commission of the committee attached a strict set of legally binding conditions to the transaction. Under these terms, the acquiring entity is prohibited from using other digital platforms under TBC Group control to unjustifiably influence platform conditions for current or future OLX users.

 Furthermore, the group is barred from using data collected through OLX to restrict competition or secure unfair advantages over rivals of TBC Bank and Payme. The conditions explicitly forbid the disclosure of personal or commercial data belonging to clients of competing firms, as well as any abuse of dominant market position that could infringe upon consumer rights.

 The regulator also focused heavily on consumer payment choices. The combined entity is prohibited from restricting payment options or exclusively forcing the use of Payme or TBC Bank services. Instead, the company must ensure completely equal operating conditions for competing payment processors and maintain full compliance with national competition laws.