M6: planned merger with TF1 abandoned
(CercleFinance.com) - Bouygues, RTL Group, TF1 and the M6 group are terminating the planned merger of the TF1 and M6 groups, as announced on 17 May 2021.
This decision comes after the parties were heard by the French Competition Authority on 5 and 6 September.
Following discussions with the Authority and despite the additional remedies proposed, it appears that only structural remedies concerning at least the divestiture of the TF1 channel or the M6 channel would be likely to enable the transaction to be authorised. The parties therefore concluded that the project no longer had any industrial logic, TF1 said.
Consequently, in agreement with the other parties, Bouygues has decided to terminate the review process of the transaction before the French Competition Authority.
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This decision comes after the parties were heard by the French Competition Authority on 5 and 6 September.
Following discussions with the Authority and despite the additional remedies proposed, it appears that only structural remedies concerning at least the divestiture of the TF1 channel or the M6 channel would be likely to enable the transaction to be authorised. The parties therefore concluded that the project no longer had any industrial logic, TF1 said.
Consequently, in agreement with the other parties, Bouygues has decided to terminate the review process of the transaction before the French Competition Authority.
Copyright (c) 2022 CercleFinance.com. All rights reserved.