Impresa breaks the silence about the TVI/Meo deal

The Impresa group is confident that the Portuguese regulators will take into consideration the principles of “fair competition” and “pluralism in the media sector” when they decide on the purchase of their competitor Media Capital by Altice, owner of Meo, in an operation assessed at 440 million euros.

In a reaction sent to newsrooms, the owner of the TV channel SIC underlines: “Impresa is, and has always been, in favor of both fair competition in a healthy market, and of media sector pluralism”. The press release further adds: “We are confident that the Portuguese and European regulators will take these two principles into consideration when making their decisions about the operation [purchase of Media Capital]”.

After having acquired PT Portugal, this second purchase is still dependent on the assessment from Portuguese and Spanish regulators, namely the Competition Authority and the Regulating Authority for the Media, whose decision is binding.

"We are confident that the Portuguese and European regulators will take these two principles into consideration [fair competition and media sector pluralism] when making their decisions about the operation being discussed. ”

Last Friday, Meo, by means of Altice, concluded the purchase of Media Capital, owner of TVI, for 440 million euros to the Spanish Prisa, after months of rumors pointing to that operation. It is the first time a telecommunications company buys a media group in Portugal.

Under national law, Altice also launched a tender offer on Media Capital, aiming to guarantee the little over 5% which is not held by Prisa, which should cause Media Capital to leave the Portuguese Lisbon Stock Market.

The securities owned by TVI’s owner rocketed, such as Impresa’s securities, because investors expected the latter, TVI’s main competition, to experience a similar deal. In the end of last year, Miguel Almeida, Nos’ CEO, stated that if Meo moved forward with a bid on TVI, there would be “a war”.