S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from Nov. 20 to Nov. 24.
TOP NEWS
* Russia's Federal Antimonopoly Service on Nov. 24 granted conditional approval to a merger of Uber Technologies Inc. and Yandex NV's respective ride-sharing businesses in the country. The regulator said the merged entity should not hinder its partners, drivers and passengers from working with other "taxi aggregators." The combined entity should also provide users information on every vehicle's driver and trip history, according to the FAS. The merger agreement covers the creation of a joint enterprise between Uber's Russian unit and Yandex.Taxi.
* U.K.-based advertising giant WPP Plc agreed to tender all of its 25% stake, or 10,331,100 common shares, in its Japanese partner Asatsu-DK Inc. to private equity firm Bain Capital, Asatsu-DK said in a Nov. 21 statement. Asatsu-DK also said WPP agreed to withdraw its arbitration petition, as well as the petition it filed with the Tokyo District Court seeking an order for provisional disposition against Asatsu-DK. Under the deal, all existing agreements between Asatsu-DK and WPP will be terminated upon completion of the tender offer. Bain Capital and WPP will also discuss a potential 25% investment by the latter in a limited partnership or other investment vehicle after Asatsu-DK becomes a wholly owned subsidiary of Bain Capital.
M&A Media
* Germany's Federal Cartel Office, or Bundeskartellamt, said Nov. 23 that it has rejected CTS Eventim AG & Co. KGaA's planned acquisition of a majority stake in the companies under Konzert- und Veranstaltungsagentur Four Artists, which are Four Artists Booking Agentur GmbH and Four Artists Events GmbH. The watchdog said CTS Eventim already holds a dominant position in Germany's ticket sales market, thus creating an unfair competitive advantage through the acquisition.
* Ritzaus Bureau A/S said Nov. 23 that it bought photo agency Scanpix AS from Denmark-based Berlingske Media A/S. The purchase, which will take effect Jan. 1, 2018, includes all Scanpix employees, image system and agreements with customers and suppliers.
* Deutsche Presse-Agentur said Nov. 21 that it acquired a 3.864% stake in London-based financial and investment news agency Alliance News Ltd. PA Group Ltd., the parent company of English news agency Press Association, has acquired an equal stake in Alliance News.
* The EQT Mid Market Europe fund, managed by Swedish investment firm EQT, agreed to acquire a 40% equity holding in music company Epidemic Sound AB as part of an ownership split, according to a Nov. 21 news release. Venture capital firm Creandum will take a 20% stake in Epidemic Sound, while the latter's founders will retain 40% ownership of the company.
* Vodafone Portugal CEO Mario Vaz claimed that Altice NV's acquisition of Media Capital has been "rejected," adding that Portuguese media watchdog ERC's decision on the deal is "valid and binding," Telecompaper reported Nov. 21. The ERC earlier failed to reach a decision on the Altice/Media Capital deal due to its potential impacts on media pluralism in Portugal.
* Vivendi SA and Mediaset SpA are close to sealing a deal and settling a dispute over their failed strategic partnership, Digital TV Europe reported Nov. 20, citing La Repubblica. A deal could reportedly see French media group Vivendi reducing its stake in Italian company Mediaset to about 5% from the current 28.8%.
M&A Communications
* Serbian cable TV operator SBB agreed to merge with industry peer Kabel Group 85, which operates in the city of Cacak, Telecompaper reported Nov. 23. SBB will become the sole shareholder of Kabel Group 85 following deal completion.
* Multimedia Polska SA may need to request a spinoff of part of its business and sell it to another company with a different investor, Telecompaper reported Nov. 21, citing Rzeczpospolita. The potential scenario would reportedly help ease antitrust concerns from regulator UOKiK over Multimedia Polska's acquisition by Liberty Global plc's UPC Poland.
* Siemens AG is acquiring Solido Design Automation Inc., a Canadian provider of variation-aware design and characterization software to semiconductor companies worldwide, Siemens said Nov. 20. The deal is expected to be completed in early December.
