Brazil: Antitrust regulator conditionally to approve AT&T-Time Warner merger

Brazil’s antitrust regulator Cade is set to approve AT&T’s acquisition of Time Warner on Wednesday October 18, with conditions, newspaper Valor Economico reported on Monday, October 16.

AT&T agreed to buy Time Warner last year for US$85 billion in a transaction it has said it hopes to conclude by year’s end.

Valor did not say how it obtained the information. Cade said it could not comment on cases under analysis for legal reasons, adding that the deal was on the agenda for Wednesday’s session.

The regulator has the power to issue a final and binding decision at that meeting.

Cade would not order AT&T to sell its ownership of Sky, which is the second-largest subscription television service in Brazil, the newspaper said without detailing what conditions would eventually be imposed by the regulator to clear the deal.

The deal will also be subject to the authorization of telecommunications regulator Anatel, Valor said.

The superintendent’s office of Cade said in August it had recommended changes to the deal as it could harm competition in Brazil’s pay TV market.

Full Content: Valor

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