MTG

The Commission for Protection of Competition (CPC) has allowed Advance Media Group, controlled by Kiril and Georgi Domuschievi, to acquire control over Nova Broadcasting Group. The agreement between Domuschievi and the Swedish MTG was signed on February 22, reports money.bg

Swedish entertainment group MTG, the biggest shareholder in Bulgaria's largest media conglomerate, consisting of Nova TV and Nova Broadcasting Group, announced on Monday it has terminated its agreement to sell its share to the Czech PFF Group, owned by businessman and media mogul Petr Kellner.

The Commission for Protection of Competition (CPC) bans the acquisition of New Brookcasting Group by the company of Czech tycoon Petr Kellner.

The Commission's arguments are that the group acquired has leading positions, has a significant financial and organizational resource, an opportunity to realize economies of scale and scope and an established reputation.