The European Commission has given the go-ahead to Altice’s planned €7.4 billion acquisition of Portugal Telecom’s domestic operations provided it sells its existing Portuguese businesses.
Allowing Altice to merge Portugal Telecom with its ONI and Cabovisão units could distort competition in the fixed-line market, the Commission said in a statement on Monday. Cable operator Cabovisão offers pay TV and fixed broadband to the residential market, while ONI is primarily a business services provider.
Altice offered to sell the businesses in order to remove the overlap between its activities and those of Portugal Telecom, thereby smoothing the regulatory path.
“My wish is to ensure that the merger will not lead to higher prices and less competition for Portuguese consumers,” said European competition commissioner Margrethe Vestager. “The commitments offered by the parties address this concern.”
Full Content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Agri Stats Must Face Price-Fixing Lawsuit, Judge Rules
May 29, 2024 by
CPI
States Ramp Up Antitrust Efforts with Expanding Legal Teams
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI