January 18 (SeeNews) - Bulgaria's competition authority said on Monday that it granted approval to United Media, part of Dutch-based telecommunications and media company United Group to acquire 100% of Sofia-based publisher Telegraph Newspaper EOOD.
As part of the transaction, United Media will exercise joint control of local publishing house Borba currently owned by Telegraph Newspaper EOOD and a private investor, the Commission for Protection of Competition (CPC) said in its decision.
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According to the antitrust body, the concentration will not lead to the establishment or strengthening of a dominant position in any of the relevant markets; therefore, the planned deal could not create anti-competitive effects that can significantly harm the competitive environment.
The acquisition of Telegraph Newspaper EOOD is in line with United Group's strategy for expansion of its portfolio and improvement of the quality of the products and services offered by the group on the Bulgarian market, the CPC said.
Interested parties can challenge the CPC's decision before Sofia Region Administrative Court within 14 days of its publication.
Earlier on Monday, the CPC said that it gave the green light to United Media to acquire 100% of Bulgarian multi-platform media company Nova Broadcasting Group. Last year, United Group completed the acquisition of Bulgarian Telecommunications Company (BTC), which operates under the Vivacom brand.
Telegraph Newspaper EOOD is wholly-owned by local investment company Intrust, which is owned by member of parliament Delyan Peevski, according to commercial register data.