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CNMC approves Canal+ acquisition

Telefonica buildingSpanish competition regulator the CNMC has, as expected, approved the acquisition of Canal+ by Telefónica with conditions, according to local press. The move clears the way for Telefónica to acquire the 56% of Canal+ that it does not already own from Prisa. 

According to newspaper Expansión, the CNMC will require Telefónica to make 50% of its premium content available to rivals on a wholesale basis. Crucially, this will include all premium football content, a hardening of conditions previously anticipated. Telefónica will also be restricted to two years rather than the anticipated two to exploit its remaining exclusive content.