From 1 January 2021, the Commission for the Protection of Competition (CPC) will be available for pre-notification discussions. To this end, the CPC has published rules for such contact. The CPC's rules on pre-notification contact are a step in the right direction in implementing best European practices on merger control. Nonetheless, it remains to be seen how practical they will be for the notifying parties.
By Reuters Staff
1 Min Read
SOFIA, Jan 18 (Reuters) - Bulgaria’s competition regulator gave a green light on Monday for Balkan telecoms and media company United Group, majority owned by private equity firm BC Partners, to acquire Nova Broadcasting Group, the largest multi-platform media firm in Bulgaria.
United Group has not disclosed a price for Nova, which owns 10 TV channels, including national NOVA TV and the country’s largest online platform, Net Info. Local media has estimated the deal at about 300 million euros ($362 million).
United Group, which acquired Bulgaria’s leading telecoms operator Vivacom last year, has said it expects to seal the purchase of Nova from Advance Media Group in the beginning of 2021.