Infocommunications authority halts media group merger
The competition authority has halted the merger of the Ringier and Axel-Springer media groups until the National Media and Infocommunications Authority (NMHH) takes a stand in the matter, business news portal Napi.hu reported.
The merger of the companies into a single joint venture called Ringier Axel Springer Hungary was announced in January, about the time Vienna Capital Partners announced a buyup of 10 Hungary-based newspapers and magazines. Apparently, however, no end to the merger is in sight due to the regulators’ prolonged investigation about whether a deal of such scale would upset market balance to an illegal extent.
The companies said at the time of the deal that they are aware the regulatory process may be long and that they are ready to wait months if necessary.
-- David Landry contributed to this article
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