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The Competition Council is reviewing the transaction by which Metlife, Inc. intends to acquire PineBridge Investments Americas Holdings Limited and, indirectly, Digital Cable Systems S.A. and Akta Telecom S.A.
Metlife is a financial services company, present in Romania through three wholly-owned subsidiaries: Metropolitan Life Societate de Administrare a unui Fond de Pensii Administrat Privat S.A. (Metropolitan Pensii), Metropolitan Life Asigurări MetLife Europe d.a.c. Dublin Sucursala București (Metropolitan Asigurări) and Metropolitan Life Asigurări MetLife Europe Insurance d.a.c. Dublin Sucursala București (Metropolitan Non-Life Asigurări). PineBridge is involved in the investment management activity.
In Romania, it indirectly controls the companies Digital Cable Systems S.A. and Akta Telecom S.A., which provide triple-play telecommunications services, with cable television, internet and telephony subscribers.
“According to the provisions of the Competition Law no. 21/1996, this operation must be authorized by the Competition Council, which will evaluate it in order to establish its compatibility with a normal competitive environment and will issue a decision within the deadlines provided by law,” says the Competition Council’s press release.
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