JCDecaux: abandons acquisition of Clear Channel in Spain
(CercleFinance.com) - JCDecaux has decided not to pursue the acquisition of Clear Channel's activities in Spain, a project which had been the subject of an agreement with Clear Channel Outdoor Holdings at the end of May 2023.
The outdoor advertising group points out that this acquisition project, announced at the same time as that of Clear Channel's activities in Italy, was subject to the green light of the Spanish competition authority.
However, JCDecaux considers that the economic and strategic interest, as well as its feasibility, are called into question by the Spanish authority's indications on the nature, timetable and terms of implementation of the commitments required for its authorization.
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The outdoor advertising group points out that this acquisition project, announced at the same time as that of Clear Channel's activities in Italy, was subject to the green light of the Spanish competition authority.
However, JCDecaux considers that the economic and strategic interest, as well as its feasibility, are called into question by the Spanish authority's indications on the nature, timetable and terms of implementation of the commitments required for its authorization.
Copyright (c) 2024 CercleFinance.com. All rights reserved.