BRUSSELS The European Commission alleged on
Thursday that telecoms group Altice had breached EU
rules by implementing its acquisition of PT Portugal before
notification or approval by EU antitrust regulators.
Altice agreed a deal in Dec. 2014 with Oi, the
Brazilian operator controlling PT Portugal, to acquire sole
control of the Portuguese telecoms company.
Altice notified the Commission in Feb. 2015 of its plans and
the Commission cleared the transaction with conditions in April
"In today's Statement of Objections, the Commission takes
the preliminary view that Altice actually implemented the
acquisition prior to the adoption of the Commission's clearance
decision, and in some instances, prior to its notification," the
Commission said in a statement.
It added that the purchase agreement put Altice in a
position to exercise influence over PT Portugal before
notification and clearance.
If the Commission were to conclude that Altice did implement
the transaction too early it could impose a fine of up to 10
percent of Altice's annual worldwide turnover.
The Commission added the investigation did not reverse its
approval of the transaction.