Without calling into question the acquisition of the telecoms operator PT Portugal by the Dutch group Altice, the European Commission decided on Thursday 18 May to carry out an investigation to ensure that this transaction, which was granted conditional authorisation in April 2015, took place in full respect of European rules on mergers.
In a statement of objections sent to Altice, the European institution believes, on a preliminary basis, that the Dutch group may have carried out the acquisition before it had authorised the operation and that part of it may even have taken place before the operation was notified. If confirmed, this would constitute a very serious breach of European legislation, the Commission stated in a press release.
The Commission authorised the merger between the two groups on condition that Altice divest its two Portuguese subsidiaries, Cabovisão and ONI, to avoid a situation of insufficient competitive pressure from the remaining market players. Acting before the Commission's formal authorisation may have had a negative impact on the competitive structure of the market.
Altice faces a fine of up to 10% of its annual turnover. (Original version in French by Mathieu Bion)