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Ringier Axel Springer gets antitrust approval to buy no. 1 internet portal in Poland


2012-09-20

The Office of Competition and Consumer Protection (UOKiK) has given the go-ahead for Ringier Axel Springer, the CEE joint venture of Ringier of Switzerland and Germany’s Axel Springer, to acquire 75% of shares in Onet.pl, the leading online portal in Poland, from Warsaw-listed media group TVN. The value of the transaction is PLN 956m (€232m). It will be finalised in the fourth quarter of the year. TVN will take up 25% of shares in a newly formed holding company 75%-owned by Ringier Axel Springer.



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