The notification on the transaction was received by The Hungarian Competition Authority (Gazdasági Versenyhivatal, hereinafter GVH) on 28 November 2018.
As a result of the transaction, Közép-Európai Sajtó és Média Alapítvány will gain direct and sole acquisition of control over Opus Press Zrt., Echo Hungária TV Televíziózási, Kommunikációs és Szolgáltató Zrt., New Wave Media Group Kommunikációs és Szolgáltató Kft. and Magyar Idők Kiadó Kft.
Under the provisions of Act LVII of 1996 on the Prohibition of Unfair and Restrictive Market Practices (Tpvt.) the Authority shall decide within 8 days of the receipt of the notification whether there are grounds justifying the initation of proceedings on the basis of the notification. In the absence of circumstances giving rise to a proceeding, the GVH will issue an official certificate to the undertaking confirming that it will not be initiating a competition supervision proceeding.
If the GVH decides to investigate the concentration, the procedural time limit is either 30 days or 4 months depending on the specific reasons for the commencement of the investigation concerning the concentration. In accordance with the applicabe legal provisions governing competition supervision proceedings, the duration of certain procedural acts do not count in the procedural time limit.
The notification is under investigation. Further information on the notification can be accessed here.
Case number: B/961/2018
Budapest, 29 November 2018
Hungarian Competition Authority