President of the Office of Competition and Consumer Protection discontinued the proceedings regarding the concentration of the Axel Springer publishing company and Polsat television for formal reasons

The transaction, notified in February 2007, is a consequence of the envisaged purchase of 25.1 per cent of Polsat television’s shares by Fünfundvierzigste Media Vermögensverwaltungs. FMV is fully dependant on Axel Springer company and it was created solely for the purpose of this transaction.

In the course of the proceedings, the President of UOKiK found that despite its purchasing only 25.1 per cent of Polsat’s shares, the publishing house’s influence on the target company would be much bigger than it may seem considering only the nominal ownership of shares. The documents analysed by the President of UOKiK, inter alia the agreement and the notification of the envisaged concentration, show that without the minority shareholder, who the FMV would become, no crucial decisions concerning Polsat could be taken.

FMV, notifying the President of UOKiK the transaction, classified it as a purchase of a stake in the television company, while the proceedings showed that as a result of the transaction both of the entities would take joint control over Polsat. Therefore, the President of UOKiK decided that conducting proceedings within the scope of the filed application is impossible and discontinued it.

That decision is not final. An appeal against it may me lodged to the Court of Competition and Consumer Protection.

Additional information:
Małgorzata Cieloch, Spokesperson for UOKiK
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Tel. 22 827 28 92, 55 60 106, 55 60 314
faks 22 826 11 86

E-mail mcieloch@uokik.gov.pl