The Securities Market Commission (CMVM) exempted the Italians from MediaForEurope (MFE) from launching a Public Acquisition Offer (OPA) for Impresa, following the partnership agreement announced in November, the regulator announced this Tuesday.
“The CMVM concluded that sufficient proof was presented that the terms of these agreements do not grant the MFE the power to exercise dominant influence over Impresa, therefore not meeting the legal assumptions that would determine the obligation to launch an OPA”, reads a statement released today.
According to the deliberation of the CMVM Board of Directors, “MFE has demonstrated that it cannot exercise dominant influence over Impresa, and as a result, the launch of a public takeover offer (mandatory) is not required, without prejudice to the attribution of voting rights that for it arise from the application of article 20, for the purposes of article 16, both of the Securities Code (CVM)”.
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