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Spain: EU passes down review of Telefonica’s Canal Plus buyout

 |  September 2, 2014

Spain now has jurisdiction to review a major acquisition by the nation’s top telco Telefonica after the European Commission passed the case down to national authorities, say reports.

Telefonica is looking to enter the top position in pay-TV services through its acquisition of Canal Plus, say reports. The deal will now be scrutinized by the nation’s National Market and Competition Commission.

Telefonica rivals, however, are concerned about national regulators reviewing the deal.

Reports say top competitor Vodafone has already voiced opposition to the watchdog investigating the merger as opposed to the European Commission, claiming that the Competition Commission could unfairly favor Telefonica, a former state monopoly.

Vodafone has asked the watchdog to impose strict concessions on the deal, according to reports.

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