EU Commission clears acquisition of Naspers' online classifieds businesses in Asia by Schibsted, Telenor and Singapore Press Holdings - as well as acquisition of Brazilian online classified business by Schibsted, Telenor and Naspers

By -
The European Commission has approved under the EU Merger Regulation the acquisition of joint control over the online classifieds businesses of Naspers in Malaysia, Thailand and Vietnam by Schibsted ASA of Norway, Telenor ASA of Norway and Singapore Press Holdings Ltd of Singapore. Schibsted and Singapore Press Holdings are international media groups, while Telenor is a telecommunications operator. The Commission concluded that the proposed acquisition would not raise competition concerns given that the target business will only operate in Malaysia, Thailand and Vietnam and thus outside the European Economic Area (EEA). Moreover, the companies' activities do not overlap. The operation was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7447.

***

Also, the European Commission has approved under the EU Merger Regulation the acquisition of joint control over Bomnegocio Ativades Ltda of Brazil by SnT Classifieds ANS of Norway and Naspers Limited of South Africa. Bomnegocio, currently solely controlled by SnT, provides online classified services in Brazil. SnT is a joint venture between Schibsted ASA, an international media group, and Telenor ASA, a telecommunications operator, both of Norway. Naspers is a broad-based global multimedia group. The Commission concluded that the proposed acquisition would not raise competition concerns given that Bomnegocio will only operate in Brazil and thus outside the European Economic Area (EEA). Moreover, the companies' activities do not overlap. The operation was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7446.




Popular posts from this blog

CJEU on Spiegel Online: The use of a protected work for the purposes of reporting current events does not, in principle, require a prior request for authorisation

By -
Source: Judgment of the Court of Justice in Case C-516/17

Spiegel Online
deenfr

Freedom of establishment

The use of a protected work for the purposes of reporting current events does not, in principle, require a prior request for authorisation

Court of Justice of the European Union

PRESS RELEASE No 101/19
Luxembourg, 29 July 2019

Judgment in Case C-516/17
Spiegel Online v Volker Beck

The use of a protected work for the purposes of reporting current events does not, in principle, require a prior request for authorisation

Furthermore, a work may be quoted by means of a hyperlink, provided that that quoted work, in its specific form, was previously made available to the public with the copyright holder’s authorisation or in accordance with a non-contractual licence or statutory authorisation

Volker Beck, a former member of the Bundestag (Federal Parliament, Germany) is the author of a manuscript on criminal policy relating to sexual offences committed against minors, which was published under a pseu…
Read more

OECD announces multilateral efforts to address tax challenges from digitalisation of the economy

By -
Via IEU Monitoring - Source: OECD
Today the OECD Secretariat published a proposal to advance international negotiations to ensure large and highly profitable Multinational Enterprises, including digital companies, pay tax wherever they have significant consumer-facing activities and generate their profits.
The new OECD proposal brings together common elements of three competing proposals from member countries of the OECD/G20 Inclusive Framework on BEPS, which groups 134 countries and jurisdictions on an equal footing for multilateral negotiation of international tax rules, making them fit for purpose for the global economy of the 21st Century.
The proposal, which is now open to a public consultation process, would re-allocate some profits and corresponding taxing rights to countries and jurisdictions where MNEs have their markets.  It would ensure that MNEs conducting significant business in places where they do not have a physical presence be taxed in such jurisdictions, through the cre…
Read more

EU auditors scrutinize EU Commission's annual 24.5m € support to NBC affiliate Euronews

By -
Source: ECA - eca.europa.eu

EU support helps Euronews to broaden its coverage of European affairs, but funding needs to be better monitored, say EU Auditors.


The EU’s support of an average of €24.5 million a year has helped Euronews to develop a unique business model and broadcast programmes on EU affairs in a number of languages, according to a new rapid case review by the European Court of Auditors. However, most citizens in the EU are unable to access it, as the channel is not a public service broadcaster in any Member State. Moreover, the auditors identified shortcomings in the way the European Commission monitors the performance of Euronews against agreed objectives and commitments made. Euronews was created in 1993 by ten European public broadcasters to reinforce European identity and integration, and the EU has provided it with financial support since then. In recent years, it has changed its ownership structure by acquiring private investors. The auditors analysed the funding of …
Read more