A PYMNTS Company

Spain: Proceedings begin against Orange for missed merger notification

By  |  February 25, 2013

Spain’s competition authority, the CNC, has announced that disciplinary proceedings have begun against France Telecom’s Orange. Orange acquired KPN’s Simyo, and while the CNC had approved of Orange’s buyout of the mobile operator this month, the two parties completed their acquisition last December before informing the CNC. While the financial value of the deal was not disclosed, it resulted in 380,000 new clients for Orange, resulting in a total of 12.2 million in Spain. The CNC says it has six months to reach a decision on the matter.

 

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.