Portugal: Portuguese telecom regulatory authority opposes Altice's acquisition of Media Capital

Anacom, the Portuguese telecommunications regulatory authority, is opposed to the proposed acquisition of Media Capital, a Portuguese media group, by Altice, a Dutch holding company of telecom and audiovisual operators, on 19/09/2017.

The telecom authority believes that the transaction is "likely to create significant obstacles for effective competition in the various telecommunications markets". Anacom, which is not authorised to block the acquisition, recommends that the Portuguese competition authority, which is currently examining the case, block it under current conditions.

Altice had concluded an agreement with Prisa, a Spanish media group, to acquire its shares (94.7%) in Media Capital, on 14/07/2017. Both entities have been in discussions since 26/06/2017. The transaction values Media Capital at €440m. Media Capital owns TVI, the most watched Portuguese television channel (average audience share of 21.5% in 2016). The Portuguese group also owns Rádio Comercial, the largest radio station in Portugal in terms of audience.

• "The acquisition of Media Capital is part of Altice's…