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EU: Commission clears the acquisition of sole control over Sotheby’s by Next Alt

By  |  August 29, 2019

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over Sotheby’s of the US by Next Alt SARL of Luxembourg. Sotheby’s is a broker of fine and decorative art, jewellery, and collectibles active worldwide.

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    Next Alt is the personal holding of Patrick Drahi, which controls the Altice group. The Altice group is active in the provision of a range of telecoms, content, media, entertainment, and advertising services worldwide.

    The Commission concluded that the proposed acquisition would raise no competition concerns, because the companies’ activities do not overlap. 

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