The Hungarian Competition Office clears a merger in the daily newspapers market subject to remedies including tying prohibition and price control, the transaction having been previously prohibited by the NCA and then subject to a new assesment following Court’s judgement (Tabora/Népszabadság)

In 2003, a member of the Ringier group, B.V. Tabora (Tabora), which held 49.97 per cent of the shares in Népszabadság, one of the largest daily newspapers in Hungary, acquired through share swap another 17.68 per cent stake in Népszabadság, thus holding a total of 67.65 per cent. Tabora requested the approval of the Hungarian Competition Office (HCO) for the transaction. The HCO refused to grant clearance on the grounds that the transaction would have horizontal and portfolio effects. The Ringier group also owned the third largest daily „Magyar Hírlap" (which however was sold later), therefore its dominant position on the market of national political daily papers would have been strengthened. Furthermore, the group also held Blikk (a tabloid) and Nemzeti Sport (a sports daily), so the HCO

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Authors

  • Lakatos, Köves & Partners (Budapest)
  • Lakatos, Köves & Partners (Budapest)

Quotation

Ádám Máttyus, Eszter Ritter, The Hungarian Competition Office clears a merger in the daily newspapers market subject to remedies including tying prohibition and price control, the transaction having been previously prohibited by the NCA and then subject to a new assesment following Court’s judgement (Tabora/Népszabadság), 26 April 2005, e-Competitions Bulletin Prohibited mergers, Art. N° 25325

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