Telefonica Faces Probe by Spanish Regulator Over Cable TV Operator Deal

Dow Jones2024-11-18

By Cristina Gallardo

The Spanish competition regulator said it opened a probe into whether Telefonica breached commitments made when it took over cable TV operator DTS in 2015.

CNMC, as the watchdog is known, greenlit Telefonica's acquisition of DTS at the time, but imposed a number of conditions proposed by the Spanish telecommunications company, valid until April 2020 and later extended for an additional three years.

On Monday, the CNMC said it was investigating whether Telefonica might have breached commitments regarding the length and terms of contracts to acquire content, among other things, and was looking at contracts dating between 2017 and 2020.

The watchdog said it would take three months to reach a decision. Opening such sanctioning proceedings doesn't pre-empt the outcome of the investigation, it said.

Last week, the CNMC opened a separate probe into whether Telefonica broke its commitment to not sign contracts lasting more than three years to broadcast third-party sports content.

Telefonica, Spain's largest TV cable operator by number of customers, didn't immediately respond to a request for a comment.

Write to Cristina Gallardo at cristina.gallardo@wsj.com

(END) Dow Jones Newswires

November 18, 2024 03:40 ET (08:40 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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