Croatia approves United Group takeover of Nova TV

Croatia approves United Group takeover of Nova TV

Croatia approves United Group takeover of Nova TV Izvor: N1

The Croatian Competition Agency (AZTN) has approved the takeover by the United Group of the Nova TV, the AZTN said on its web site.

The decision clears the way for the US investment fund KKR to take over that station which has the highest ratings in Croatia.  

The AZTN made a clearance of concentration ruling in the case, ruling to allow the concentration which would be created by the takeover since the the Slovenia Broadband S.a r.l. company is part of the KKR investment fund.  

AZTN has assessed that this concentration could not have a significant effect on competition, especially not in creating a new position or reinforcing the existing dominant position of the concentration on the market, the statement said.  

The AZTN decision was taken after the Electronic Media Agency (AEM) ruled late in March that no illegal concentration would be created to include Slovenia Broadband and Nova TV. The AEM is in charge of protecting pluralism and diversity in the electronic media and monitoring the implementation of the law.

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