EU Accuses Altice Of Gun-Jumping In PT Portugal Deal

Law360, New York (May 18, 2017, 7:12 PM EDT) -- The European Commission on Thursday accused telecommunications giant Altice SA of illegally going through with its acquisition of rival PT Portugal SGPS SA before receiving antitrust approval for the deal.

The commission, the European Union's executive arm charged with antitrust enforcement, sent a formal complaint known as a statement of objections to Altice over its €7.4 billion deal, worth about $7.9 billion by the time the agency cleared the transaction with conditions in April 2015.

The agency accused Altice of what is known as gun-jumping, or...
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