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Brazil antitrust regulator to approve AT&T-Time Warner merger - media
October 16, 2017 / 1:26 PM / a month ago

Brazil antitrust regulator to approve AT&T-Time Warner merger - media

BRASILIA (Reuters) - Brazil’s antitrust regulator Cade is set to approve AT&T Inc’s acquisition of Time Warner Inc on Wednesday, with conditions, newspaper Valor Economico reported on Monday.

A woman looks at her mobile next to AT&T logo during the Mobile World Congress in Barcelona, Spain February 25, 2016. REUTERS/Albert Gea/File Photo

AT&T agreed to buy Time Warner last year for $85 billion in a transaction it has said it hopes to conclude by year’s end.

Valor did not say how it obtained the information. Cade said it could not comment on cases under analysis for legal reasons, adding that the deal was on the agenda for Wednesday’s session.

The regulator has the power to issue a final and binding decision at that meeting.

Cade would not order AT&T to sell its ownership of Sky, which is the second-largest subscription television service in Brazil, the newspaper said without detailing what conditions would eventually be imposed by the regulator to clear the deal.

The deal will also be subject to the authorization of telecommunications regulator Anatel, Valor said.

The superintendent’s office of Cade said in August it had recommended changes to the deal as it could harm competition in Brazil’s pay TV market.

In Latin America, Mexican and Chilean regulators have already approved the deal.

Reporting by Jake Spring; editing by Susan Thomas

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