Anacom objects on 28 counts to Competition Authority report on SonaeCom's bid for Portugal Telecom

29 Nov 2006

Portuguese telecoms regulator Anacom has raised 28 objections to the Competition Authority’s revised recommendations on SonaeCom’s EUR13.9 billion (USD18.27 billion) bid for the Portugal Telecom group, reports Diario de Noticias. Anacom disagrees with conditions proposed by the anti-trust authority for the fixed and mobile networks, while also seeking clarification on topics ‘imprecisely worded’ in the authority’s study, according to the newspaper. In mobile networks, the most contentious area, Anacom wants more restrictions on tariff differentiations, to allow a balance between on-net and off-net prices, the report added. The Competition Authority has yet to publish its conclusions but has submitted them to Anacom for comment.

SonaeCom said earlier this month that it hoped finally to launch the bid on 15 Dec, if regulators could agree on the conditions to be imposed by the end of November. SonaeCom first announced the takeover offer in February. Mario Lino, the public works minister, has said it is ‘lamentable’ that the regulatory review of the bid has taken nine months.

Portugal, Optimus (Clix)