CADE Approves Joint Venture Between Telefônica and Anima

CADE Approves Joint Venture Between Telefônica and Anima
Photo: https://thetechzone.online/telefonica-q4-2020-results-revenues-benefits-and-customers/ 17.03.2022 309

The new company will develop a business focused on the commercial exploitation of free and short term digital courses for professional training.

On the 16th of March, The General Superintendence of the Administrative Council for Economic Defense published the approval, without restrictions, of a joint venture between Telefônica Brasil and Ânima Holding. The company will work on business development aimed at commercial exploitation of free and short-term digital courses for professional training.

Telefônica Brasil is a company that provides telecommunications services, such as mobile and fixed telephony and provision of infrastructure and technology for third parties. The company belongs to the Telefônica Group, which also operates in other areas, such as the internet of things, cloud storage services, insurance brokers, supplementary pensions, collection activities and registration information (factoring), direct marketing and technical engineering activities. and architecture.

Ânima, on the other hand, is the parent company of Grupo Ânima, whose primary role is in the administration of educational institutions, essentially higher education, undergraduate and graduate courses, in the face-to-face and distance modalities, in several locations in Brazil, in addition to having a small performance in technical secondary education and in the offer of free courses.

In its order, CADE's General Superintendence understood that the formation of the joint venture does not generate harmful implications for the competitive environment, mainly because the action will be in the exploration of a new business by the companies. Thus, the operation was approved without restrictions.

If CADE's Tribunal does not invoke the merger for analysis or there is no appeal by an interested third party, within 15 days, the Superintendence's decision will be final and the transaction will be definitively approved by the antitrust agency.

Source: Gov.br

digital markets  Brazil 

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