The Office of Competition and Consumer Protection (UOKiK) has approved the takeover of Wirtualna Polska by Grupa o2 deciding that such a merger will not affect competition.
“The proceedings carried out have shown that the concentration will not lead to limitation of competition,” the UOKiK statement reads.
Internet portal firm Grupa o2 agreed to buy 100 percent of shares in Wirtualna Polska from Poland’s largest telecommunications firm Telekomunikacja Polska back in October 2013. The deal, worth PLN 375 million, was carried out with the help of financing from private equity fund Innova Capital.
Wirtualna Polska had 13.5 million users in November 2013 and is the second most visited Polish news portal, while Grupa o2 portals boasted 9.23 million users and places sixth. The top-visited Polish web portal was Onet.pl with 15.25 million users that month.
According to Orange Polska, the current owner or Wirtualna Polska, the deal should be finalized in Q1 2014.
From Warsaw Business Journal
PGNiG and Lafarge get approval for joint venture
Consumer watchdog fines mobile operator zł.8.2 mln
Gas suppliers using illegal contracts to fleece customers
Gov't doled out zł.3.4 billion in 2011
Polish banks to pay millions in fines
A day full of possibilities
BY Andrew Kureth
Will cabinet reshuffle save PO?
BY Remi Adekoya