EU Accuses Altice of Breaking Rules in Portugal Telecoms Merger
The European Union's antitrust regulator on Thursday formally accused Dutch telecommunications company Altice NV of implementing its merger announced in 2014 with PT Portugal SGPS SA before formally logging the deal for review with EU authorities.
The EU cleared the deal in April 2015 but said it now suspects the companies began implementing the merger before winning approval and in some cases before even registering the deal with authorities in February 2015.
Should it find Altice jumped the gun on implementing the merger, the EU could fine the company up to 10% of annual revenue.
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(END) Dow Jones Newswires
May 18, 2017 03:34 ET (07:34 GMT)