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News Corp. applies to Brazilian authorities for approval of merger with Hughes
quinta-feira, 08 de maio de 2003 , 17h13 | POR REDAÇÃO

On Monday, May 5, News Corp. applied for Brazilian approval for its takeover of Hughes Electronics. The proceedings start with the Justice Ministry's Economic Law Department (SDE), which will probably request input from the Finance Ministry's Economic Surveillance Department (SEAE) and Anatel, the telecoms regulator, for an opinion to be submitted to CADE, the competition tribunal, which will then issue a ruling. News Corp.'s formal application is important because it provides the first opportunity for the Brazilian antitrust authorities to examine the proposed merger of Sky and DirecTV, controlled by News and Hughes respectively. In antitrust proceedings, SDE and SEAE usually hear testimony from all significant players in the industries involved. They can take a long time when an acquisition or merger is complex, so in this case the Brazilian authorities may not reach a decision before the U.S. authorities do.

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