Spanish competition regulator CNMC has authorised the takeover bid presented by Indra for 100% of its rival Tecnocom, with a calculatedvalue of €305 million.
The approval of the CNMC fulfils one of Indra’s previous commitments to Tecnocom shareholders, as the company was charged with securing the necessary approval from regulators before the deal could be finalized.
Indra’s takeover, announced at the end of November, would see the company absorb the entirety of Tecnocom’s assets, excluding treasury stocks, at a price of €4.25 per share. The company has secured deals with Tecnocom’s shareholders controlling a decisive 52.7% of capital assets.
Full Content: El Economista
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
European Music Streaming Firms Rally Against Apple’s Proposed Remedies
May 9, 2024 by
CPI
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI