In a statement, the CPC says it took into account the acquirer’s leading position in the field of media services, which in turn raised concerns about the effect of a transaction on the competitive environment.
It also says that the dramatic number of media available to a merged entity would give it a significant advantage over other media service providers. Ultimately, not only competition in the market but also the interests of end-users would be limited or distorted by such an entity.
Responding to CPC’s decision, MTG said it is “surprised by the decision and will review it further before deciding on the next steps to be taken”.
The CPC launched an investigation into the proposed sale last month.