Competition protection commission investigates sale of B92

The Competition protection commission started an investigation procedure for the ownership structure change of radio-diffusion company B92 which was acquired by Cyprus-based Astonko Holdings Limited through its Belgrade-based company with the same name, it was published at the company site.

In the conclusion on procedure initiation, the Commission states that in the period from 2006 until 2009, capital increases in B92 were carried out through new shares issuance and the most important one was implemented in late October 2010 after which, as it was stated, Astonko acquired 85% stake in B92.

The ownership structure change has neither been reported to Competition protection commission nor it was examined which is governed by the law, it was concluded.

The Commission points out it is familiar with the problem of insufficient ownership transparency in Serbian media and that the problem is manifested through registration of companies abroad so that they would then appear as founders of local companies which become owners of local media with an aim to hide the real owners. Without the approval of the Commission, these kind of media acquisitions can consequently lead to dominant position creation or strengthening which can significantly limit, damage or prevent media market competition.

If during the procedure it is concluded that concentrations were conducted without the Commissions’ approval, the Commission can order participants to share the company, sell share spf stakes, terminate the contract or undertake some other activities so that the situation before concentration would be set up, it was stated in the announcement.