Global objects Competition Commission rule
The recent decision by the Competition Commission saying
Global Radio has filed an application with the Competition Appeal Tribunal, or CAT, for a review of the final decision in the Global Radio/ Real & Smooth Ltd transaction.
The company isn’t saying much at this stage as it is a legal process, but did tell RadioToday the appeal challenges the CC on a number of grounds, including the order to divest several radio stations.
“Global continues to engage with the Commission proactively on remedies discussions, in parallel with the case now proceeding before the CAT, and has appointed Lepe Partners as its strategic advisors on potential divestments”, the company said in a statement this morning.
This means if the outcome of the Competition Appeal Tribunal go against Global Radio, the company is in a position to move quickly selling the stations it needs to.
The CAT is likely to take anything up to six months to complete, meaning the purchase of(C) RadioToday in June 2012 won’t be resolved until some point in 2014.