GNCC has granted prior consent to “Maxnet” Ltd for the acquisition and merger of 100% of shares of “TV Net” Ltd

November 29, 2016 17:20

“Maxnet” Ltd and “TV Net” Ltd have addressed GNCC with a joint statement. The companies have requested a prior consent from the Commission for the acquisition and merger of 100% of the shares by “Maxnet” Ltd owned by “TV Net” Ltd.  

Based on above-mentioned application, the Commission has studied activities of authorized entities as well as their affiliates and has determined, that in case of satisfying companies’ request, the noted transaction won’t reflect on existing competition on the market in the field of electronic communications and existing circumstances will stay the same. Accordingly, the Commission has made a decision on granting prior consent to“Maxnet” Ltd for the acquisition and merger of 100% of shares of “TV Net” Ltd. In case of the merger of the companies, they have been assigned to ensure protection of consumer rights as defined  in accordance with the Commission’s regulation “on approval of service distribution and consumer rights protection.”