Altice will not propose alternative anti-trust remedies for EUR 440m Media Capital acquisition
Altice [AMS:ATC] will not propose alternative remedies in its EUR 440m acquisition of Media Capital {ELI:MCP] after Portuguese anti-trust authorities rejection earlier this week of eight proposals for the deal, reported JornalEconomico .
The Lisbon business paper cited an official Altice Portugal statement that said the French telco will not wait for official notification from the AdC Portuguese Competition Authority on the rejection of the eight remedies submitted on 30 April and does not plan to submit alternative proposals for the takeover of Media Capital.
Attice said the eight remedies it had proposed were in keeping with best market practices with other European regulators in similar transactions and criticized the AdC’s leaking of its decision to reject the proposals to the media while an Altice lawyer was in a meeting with senior anti-trust officials in Lisbon.
In its rejection of the eight remedies made on 28 May the AdC said the Altice proposals lacked sufficient details in some areas, were difficult to monitor and could distort markets in Portugal. Altice’s Meo cable operator could potentially deny rivals free access to advertising and cost for this could be significantly hiked, the AdC said.
Elsewhere, an AdC source told Jornal de Negocios that a final decision on the Altice purchase of Media Capital will be announced towards the end of June.
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Jornal de Negocios, print version P 63
Jornal de Negocios, print version P 63