French Watchdog Withdraws Approval Of Canal Plus's TPS Buy
September 21 2011 - 4:03AM
Dow Jones News
French antitrust watchdog Autorite de la Concurrence Wednesday
withdrew its approval of French pay-TV company Canal Plus's
acquisition of smaller rival TPS, saying the company hasn't
respected the conditions attached.
The Autorite de la concurrence fined Canal Plus Groupe, owned by
media giant Vivendi SA (VIV.FR), EUR30 million for its failure to
respect some "essential" conditions linked to the merger of the two
pay TV firms in 2006 and ordered Canal Plus to file a new
application for approval of the transaction within a month.
The authority said Canal Plus and parent Vivendi had signed 59
commitments aimed at maintaining an even playing field on the pay
TV market.
Canal Plus flouted undertakings to make its channels available
to rivals and maintain their quality, which were essential to
protecting competition, the authority said in its decision.
In a statement, Canal Plus called the authority's decision
"unusual" and "disproportionate" and said it will take any action
it deems necessary.
"It's obviously not possible to question a merger that happened
five years ago," Canal Plus said.
Vivendi declined to comment.
-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1754;
ruth.bender@dowjones.com
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