Serbian antitrust authority rejects WAZ's request to take over Novosti

The Commission for Protection of Competition has rejected the request of Austria's Ostholding to acquire a 62.4-percent stake in the news and publishing company Novosti from Belgrade, it was announced on October 14th on the website of that institution.

Ostholding, owned by the German media company WAZ, has filed a request with the Commission, asking for a permission to take over the whole stake in three companies through which a majority stake in Novosti has been acquired.

These companies are Trimax, Ardos and Karamat, which are all owned by Milan Beko, a businessman from Belgrade.

The Commission states in its explanation that Ostholding's request has been rejected because it failed to submit a proof of the legal basis for the implementation of concentration, which is a required and necessary condition to meet in order for the Council of the Commission for Protection of Competition to take the request in consideration.

Ostholding can lodge an appeal within three days of receiving the decision on the rejection of the request.