Portuguese media conglomerate Zon Multimedia has announced that CaixaBI will hold Zon’s shares in three cable TV companies until the Portuguese competition authority Autoridade da Concorrencia approves the transaction.
In August 2007, Zon (then called PT Multimedia) agreed to acquire Bragatel, Pluricanal Leiria and Pluricanal Santarem.
After an amendment to the original agreement, CaixaBI has agreed to hold 80% of Bragatel, 76% of Pluricanal Leiria and 79% of Pluricanal Santarem. Zon will continue to hold the remaining shares in each company.
If the Autoridade da Concorrencia approves the transaction, Zon will acquire the stakes from CaixaBI.