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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