GROUPE CANAL+/STREAM
PRESS RELEASE
PRESS RELEASE
Tele /Stream: investigation extended to 13 November 2001
On 25 October, the Competition Authority resolved to extend the deadline for closing the investigation, that began on 12 September 2001, into the merger between the Groupe Canal , Tele+ S.p.A. and Stream companies, to 13 November 2001.
On 24 October 2001 Groupe Canal+ and Tele+ S.p.A. requested an extension of the investigation deadline in order to be able to frame new undertakings to ensure that the operation would receive a more favourable appraisal. The Authority also considered it necessary to acquire supplementary information on the readiness of the Parties to enter into further undertakings of relevance to the appraisal of the operation. Since the 27 October 2001 deadline for the conclusion of the investigation would not have given sufficient time to acquire and weight up the supplementary information, the Competition Authority considered it necessary, pursuant to section 16 (8) of the Competition Act, to extend the deadline for its conclusion to 13 November 2001.
Rome, 26 October 2001