Competition Alert

The National Markets and Competition Commission (NMCC) approves the acquisition of DISTRIBUIDORA DE TELEVISIÓN DIGITAL S.A. (DTS) by TELEFÓNICA DE CONTENIDOS S.A.U. (Telefónica) subject to remedies on second phase (Decision of 23 April 2015, file C/0612/14)

The approved transaction consists of the acquisition by Telefónica (incumbent telecommunications operator also active in the pay TV market) of the exclusive control of DTS, through the purchase of the 56 % share capital in the hands of Prisa, which adds to the 44% share capital already owned by Telefónica.

The NMCC has approved the transaction of reference after an in-depth (second phase) investigation subject to commitments offered by Telefónica. Telefónica has proposed a five-year duration commitment package (renewable for three additional years) from the moment the NMCC Decision is deemed final (i.e., 30 April 2015). During this period, the resulting entity may request an amendment to the commitments offered if a significant change in the structure or regulation of the markets in question occurs.

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Competition Bulletin May 2015

Table of Contents

01  Spain: The National Markets and Competition Commission approves the acquisition by Schibsted España S.L.U. of Milanuncios S.L.U. subject to remedies in a second phase merger review (Decision of 20 November 2014, file C/0573/14).
02  Spain: The High Court has annulled inspections carried out by the National Competition Commission in two separate infringement procedures (Judgments of 10 December 2014).
03  Spain: The National Markets and Competition Commission has imposed fines of EUR 98.2 million on 39 companies and three trade associations active in the waste management and urban sanitation in Spain (Decision of 8 January 2015, file S/0429/12).
04  Spain: The Spanish Supreme Court has issued a landmark judgment regarding the interpretation of the 10% turnover limit for cartel fines (Judgment of 29 January 2015), confirming that fines for antitrust infringements may reach 10% of group turnover.
05  Spain: The National Markets and Competition Commission has imposed fines totalling EUR 4 million for alleged bid-rigging regarding the supply of to RENFE, the national railway operator (Decision of 29 January 2015, file S/0453/12).
06  Spain: The National Markets and Competition Commission has fined various Spanish milk suppliers EUR 88.2 m (Decision of 26 February 2015, file S/0425/12).
07  Spain: The National Markets and Competition Commission has imposed fines totalling EUR 9 m on 45 car dealerships operating in the country’s car distribution market for an infringement of Article 1 of the Spanish Competition Act (Decisions of 5 March 2015, files S/0486/13, S/0488/13 and S/0489/13).

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Merger and New Office Announcement

We are glad to announce that Eduardo Coca has decided to join forces with Callol Law’s team to form a specialist law firm focusing on competition/regulation, specialist litigation and venture capital/high growth industries.

Callol Law was formed in 2014 as a spin-off of the entire EU/Competition law group of Roca Junyent, one of Spain’s largest national law firms, where Pedro Callol was the competition partner (http://callolcoca.com/our-team/pedro-callol/). For press coverage of that move, please refer to our online Press Room at http://callolcoca.com/press-room/

Eduardo Coca is a well-seasoned specialist in his field and hitherto a partner with Olswang. For details on Eduardo Coca’s practice please see http://callolcoca.com/our-team/eduardo-coca/.

Pedro Callol and Eduardo Coca share a common past as fee earners with a UK ‘magic circle’ law firm, where they met and worked together in many deals.

As this announcement takes place, Callol-Coca is completing its installation in a new office in Madrid’s premier business area.

Our new contact details are as follows:

Calle Don Ramón de la Cruz, 17, Third Floor
Madrid 28001
Tel: +34 91 737 67 68
Fax: +34 91 141 21 39
Email: info@callolcoca.com

We look forward to welcoming

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