The General Court dismisses Altice Europe’s action against the Commission decision imposing two fines totalling €124.5 million in connection with the acquisition of PT Portugal

(Source: Court of Justice of the European Union)

Altice Europe NV (‘Altice’) is a multinational cable and telecommunications company. PT Portugal SGPS SA (‘PT Portugal’) is a telecommunications and multimedia operator with activities extending across the entire telecommunications sector in Portugal.

On 9 December 2014 Altice concluded a share purchase agreement (‘SPA’) with a view to obtaining sole control of PT Portugal through its subsidiary Altice Portugal SA. Since that acquisition required authorisation by the Commission under the regulation on the control of concentrations, the SPA laid down a set of rules concerning how PT Portugal’s business was to be managed in the period between the signing of that agreement and the closing of the transaction
following authorisation by the Commission (‘the preparatory clauses’).

By decision of 20 April 2015, the Commission declared the acquisition compatible with the internal market subject to compliance with certain commitments.

Full Press Release – Judgment of the General Court in case T-425/18

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