Media Capital has received 10 million euros after Nowo shareholders ended negotiations to buy the company, according to information sent to the market on Wednesday.
“[…] The Media Capital Group informs that, in order to exercise the right of Nowo shareholders to end the negotiations held over the last few weeks with a view to its potential acquisition, Media Capital received, on this date, the sum of 10,000,000 euros”, reads the statement sent to the Securities Market Commission (CMVM).
Media Capital clarified on Tuesday that it had held talks to buy Nowo Communications, although an agreement could not be reached, and promised to remain alert for future opportunities.
In the note sent to the CMVM, Media Capital recognized the legitimate right of Nowo shareholders to end negotiations between the two parties.
The group also said it will continue to look for opportunities to integrate audiovisual production with content distribution.
On July 22, Media Capital said in a statement to the market that it was “attentive to market movements” and “available to analyze potential business opportunities.”
The note came after Negócios said Media Capital wanted to buy Nowo.
On 4 July, the Competition Authority (AdC) announced the “failure” of Vodafone Portugal’s acquisition of Nowo, considering that this concentration presents “significant obstacles to competition” and harms consumers.
In September 2022, Vodafone had signed an agreement to acquire the fourth operator in Portugal, Nowo, from Llorca JVCO Limited, owner of Masmovil Ibercom.
Source: Observadora
