| Author (Corporate) | European Commission: DG Competition |
|---|---|
| Publication Date | 2017-2018 |
| Content Type | Overview |
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Summary: The European Commission sent on 18 May 2017 a Statement of Objections over an alleged breach of the EU Merger Regulation by telecommunications company Altice by implementing its acquisition of PT Portugal before notification or approval by the Commission. On 24 April 2018, the Commission announced the decision to impose a €124.5 million fine on Altice for the breaching of the Regulation. Further information: On 9 December 2014, Altice entered into a transaction agreement with Oi, the Brazilian telecommunications operator which controlled PT Portugal, to acquire sole control of PT Portugal. The transaction was notified to the Commission in February 2015 and approved in April 2015, subject to the divestment of Altice's businesses in Portugal at the time, Oni and Cabovisão. |
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| Source Link | Link to Main Source http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_7993 |
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| Subject Categories | Internal Markets |
| Subject Tags | Competition Law | Policy, Telecommunications |
| Keywords | Mergers and Acquisitions |
| Countries / Regions | Portugal |
| International Organisations | European Union [EU] |
