CNMC deepens probe into DFDS-Armas deal

FerryThe Spanish National Commission on Markets and Competition (CNMC) has moved its investigation into DFDS’s acquisition of Armas Trasmediterránea assets into a more intensive second phase after identifying significant threats to market health. This transaction, which involves key routes in the Strait of Gibraltar, is being analyzed alongside a separate purchase by Baleària to assess their cumulative impact.

The regulator is particularly concerned that these combined deals would reduce the number of shipping companies on the Algeciras-Tangier Med route from four to three and create a near-duopoly on the Algeciras-Ceuta route, where providers would drop from three to two.

Beyond simple market share, the CNMC warns that the disappearance of Armas as an independent player removes a critical bidder for Public Service Obligation (PSO) contracts. This loss of competitive pressure could compromise the quality and pricing of essential maritime services between the mainland and Ceuta. While this in-depth review does not guarantee a rejection, the CNMC now holds the authority to either block the concentration entirely or demand specific concessions and commitments from DFDS before the acquisition can proceed.

jan 29 2026