Telefónica is likely to secure the approval of the Spanish competition regulator, the CNMC, for its acquisition of pay TV service Canal+, thanks to a series of voluntary concessions that are likely to head of the latter’s concerns, according to local reports.
Telefónica has reportedly offered to make half of its premium content, including from the Movistar TV service as well as Canal+ itself, available to third-party operators via a wholeshale offer, in order to secure approval to acquire the 56% of Canal+ it does not already own from Prisa.
According to sources cited by local paper El Economista, the concessions are enough to satisfy CNMC president José Maria Marín Quemada but will be accepted with reluctance by Telefónica’s rivals, which had hoped for access to about 75% of Movistar TV’s premium content.
According to El Economista, the CNMC will hold Telefónica to meet its commitments for five years, as opposed to three years put forward by the operator. The regulator will also delay the launch date of commercialization of joint offerings comprising both Movistar TV and Canal+ by Telefónica, according to the paper.
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24th August 2019