France Fines Canal Plus $41M, Pulls OK For TPS Merger

Law360, New York (September 21, 2011, 1:44 PM EDT) -- France's competition watchdog on Wednesday withdrew its permission for Canal Plus Group's 2006 purchase of rival pay-TV operator TPS, and fined the Vivendi SA unit €30 million ($41.1 million) for violating several key commitments it made to win antitrust approval.

In addition to the penalty, Canal Plus and Vivendi will have to renotify the transaction to the French Competition Authority within a month if they do not unwind the deal.

The regulator accused Canal Plus — France's leading pay-TV provider — of a combination of negligence,...
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