CC switches on £2.5bn broadcast merger
Clifford Chance (CC) has helped broadcast transmission companies Arqiva and National Grid Wireless (NGW) win conditional approval of their merger from the UK Competition Commission. London-based competition partners Jenine Hulsmann and Oliver Bretz advised both NGW and Arqiva throughout the Competition Commission probe into the £2.5bn merger, which was first announced in April 2007.
March 19, 2008 at 10:33 PM
2 minute read
Clifford Chance (CC) has helped broadcast transmission companies Arqiva and National Grid Wireless (NGW) win conditional approval of their merger from the UK Competition Commission.
London-based competition partners Jenine Hulsmann and Oliver Bretz advised both NGW and Arqiva throughout the Competition Commission probe into the £2.5bn merger, which was first announced in April 2007.
Around 10 partners from CC advised Arqiva parent company Macquarie on its bid for NGW, acting opposite Linklaters for National Grid, which had put the business up for sale in 2006.
The Commission's approval means the deal can now go ahead as long as certain conditions are met to protect the interests of customers. CC will continue to advise both companies throughout the integration process.
Hulsmann said: "This was an interesting deal as we had a large team doing all of the corporate, competition and finance work. It is a pleasure that a challenging investigation like this has gone through."
She added: "The Commission has recognised that the merger will result in substantial benefits to customers, including reducing the risks associated with the switchover to digital television. The decision is significant in that Arqiva and NGW are able to merge without onerous undertakings in terms of forced sales or divestments."
Jonathan Blackburn led a team of in-house lawyers at the Competition Commission throughout the entire course of the investigation.
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