Lisbon, Oct. 24, 2024 (Lusa) - The Portuguese Competition Authority (AdC) announced on Thursday that it had "adopted a decision not to oppose" the purchase of Nowo by Digi, exactly one month after the sector regulator Anacom considered that the operation did not create obstacles to competition.
In a statement published on its website, the AdC said that on 23 October, its Board of Directors decided "to adopt a decision not to oppose the merger (...), since it is not likely to create significant obstacles to effective competition in the national market".
The merger consists of Digi Portugal, Lda. buying exclusive control of Cabonitel, S.A., which owns Nowo.
On 24 September, the national communications authority (Anacom) had considered that Digi's purchase of Nowo did not create barriers to competition, days after the media regulator ERC had also given the deal the green light.
Digi Portugal is a national company that is part of the Digi Group, with its registered office in the Netherlands and effective management headquarters in Romania, active in the telecommunications sector in Romania, Spain and Italy, under the Digi brand.
The operator holds rights to use a total of 95 MHz of radio spectrum and a fibre-optic network that is being installed in various parts of the country.
Cabonitel is controlled by Lorca JVco, a company incorporated under British law, and owns Nowo Communications, which offers electronic communications services in mainland Portugal, including fixed communications, mobile services (as an ‘MVNO’ [mobile virtual network operator], using the Meo network), fixed Internet services, pay-TV services and telecoms packages.
Nowo holds rights to use a total of 70 MHz of radio spectrum.
Digi agreed to buy Nowo and its licences for €150 million and the announcement of this operation came shortly after the AdC ‘rejected’ the purchase of that operator by Vodafone Portugal.
On 4 July, the AdC justified its decision on the grounds that Vodafone Portugal's merger with Nowo presented ‘significant obstacles to competition’ and would harm consumers.
In September 2022, Vodafone had signed an agreement to buy the fourth operator in Portugal, Nowo, from Llorca JVCO Limited, owner of Masmovil Ibercom.
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