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Deciding the takeover bid before Christmas will require a quick review of comments on the draft decision

If he fulfills his own predictions, the President of the Competition Authority may have only two days to evaluate the comments of the interested parties in the OPA process on PT.

This is because, the scheduled date for receiving comments ends on the 20th of December and between that date and Christmas there are only two business days left, writes today’s edition of Jornal de Negócios citing the latest statements by Abel Mateus.

In the last statements on the OPA the president of the regulator estimated for the disclosure of a final decision on the matter would be known «within days […] possibly before Christmas. «

AdC has already issued two draft decisions regarding Sonaecom’s takeover bid on PT. Both with a positive opinion, the draft decisions differ mainly in the remedies. The second, known on December 5, is more comprehensive in this field, fitting a set of issues that raised concerns for the sector regulator, Anacom.

The deadline for the reception of comments by interested companies should be used up to the limit, taking into account that the AdC has been receiving requests to extend the deadline for the delivery of responses.

It is recalled that the first draft decision was announced on 27 September and the second was only concluded in early December. As Abel Mateus himself reported to Jornal de Negócios there are few differences between the two preliminary decisions, which may justify the estimate of a quick final decision by the regulator.

Going forward before Christmas, a positive final decision by the Competition Authority obliges Sonaecom to register the takeover bid until 11 January.

Related News:

2006-12-11 – PT asks CMVM not to accept OPA registration

2006-12-05 – Sonaecom takeover bid on PT receives new positive opinion from AdC

2006-09-28 – AdC gives green light to Sonae’s takeover bid on PT with aggressive remedies