LISBON (Reuters) - Portugal’s competition authority has rejected a package of market remedies proposed by Dutch-based Altice (ATCA.AS) to secure a takeover of Portugal’s Media Capital, owner of the TVI television channel.
A spokeswoman at the authority told Reuters the decision “was not final as the company is free to present other remedies.”
Altice agreed to buy Media Capital from Spain’s Prisa last year but the operation has faced complaints by rivals, such as NOS (NOS.LS) and the local unit of Vodafone (VOD.L), who argue it would distort competition in the Portuguese market.
The authority has not yet detailed the remedies proposed by Altice to soothe the concerns.
Reporting By Catarina Demony, writing by Axel Bugge