The planned merger between French broadcasters TF1 and M6 could be at risk following concerns from the country’s competition authority.
Bouygues (the parent company of TF1) is expected to acquire a 30 per cent stake in M6 from Berteslmann as part of the deal.
But a statement from TF1 and Bouyges warned competition concerns, particularly around the advertising market, could put the deal in jeopardy.
“The nature and extent of the remedies required in the report would mean that the merger plans would no longer be meaningful for the parties involved and they would therefore abandon them,” the two companies said.
They added that they have no plans to change the terms of the deal and will respond to the authority’s concerns in the next few weeks.
Hearings will take place before the French competition authority’s board on September 5th and 6th, the companies said.