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German cartel office says EQT submitted Schufa credit agency takeover plans

By Reuters

BERLIN – Germany’s cartel office said on Tuesday it was reviewing plans filed by Swedish financial investor EQT to acquire 100% of the German private credit bureau Schufa.

Schufa provides retailers and banks in Germany with data on the creditworthiness of customers and business partners.

The credit cooperative bank, however, could apparently get in the way of EQT’s plans to take sole control of the credit agency.

The TeamBank credit cooperative also notified the cartel office of its plans to acquire a minority share and a competitively significant influence in Schufa, said the cartel office.