Resumen de Portugal: : Competition Court Upholds Regulator’s Decision on Sports Broadcaster

Mariana Lameiras, Helena Sousa

• On 28 January 2015, the Competition Court upheld the Competition Authority’s (Autoridade da Concorrência - AdC) decision regarding the prohibition of the distribution of Sport TV shares between three Portuguese media companies. Controlinveste Media, NOS (the former Zon Optimus) and Portugal Telecom (PT) where planning this procedure, known as a “triangle operation”, designed to split the Sport TV capital stock. The strategy was to sell 25 per cent to NOS (of the 50 per cent that PT owns in Sport TV), while keeping the remaining 50 per cent under the purview of Controlinveste.