CNMC asks EC to leave Orange/MásMóvil decision to them
March 6, 2023
From David Del Valle in Madrid
Spain’s regulatory body CNMC wants the final word on the merger between Orange and MásMóvil, and has asked Brussels to let them adjudicate.
CNMC argues that the regulatory body has more knowledge of current market conditions, and asserts its competence to make a decision over the operation valued at €19 billion.
The European Commission (EC) must decide what to do before March 20th. CNMC, Orange and MásMóvil aim to complete the merger this summer and set up a 50/50 joint company.
CNMC is in favour of an Orange/MásMóvil joint-venture to create “national champions” in the telco market who are able to compete head on with other European companies.
With the support of the Spanish Government, the CNMC considers it feasible to have two dominant companies – Telefónica and Orange-MásMóvil – to compete with the likes of Deutsche Telekom, TIM and BT