Bouygues announces the abandonment of the TF1/M6 merger project | Photo credits: JPstock / Shutterstock.com
PARIS, September 16 (Reuters) – The Bouygues group announced on Friday the abandonment of the plan to merge TF1 and M6 after failing to overcome the reluctance of the Competition Authority.
“Following discussions with the Autorité and despite the additional remedies proposed, it appears that only structural remedies concerning at least the sale of the TF1 channel or the M6 channel would be such as to allow the authorization of the operation The parties therefore concluded that the project no longer presented any industrial logic,” said the parent company of TF1 in a press release.
“Consequently, in agreement with the other parties, Bouygues has decided to end the review process of the transaction before the French Competition Authority.” (Written by Nicolas Delame, edited by Sophie Louet)