CELEX: 32021M10222
Language: en
Date: 2021-04-22 00:00:00
Title: Commission Decision of 22/04/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10222 - CDPQ / TELEFÓNICA / FIBRASIL JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 22.04.2021
                                                                C(2021) 2965 final
                                                                                 PUBLIC VERSION
                                                                Telefónica S.A.
                                                                Ronda de la Comunicación s/n
                                                                28050- Madrid
                                                                Spain
                                                                Caisse de dépôt et placement du
                                                                Québec
                                                                1000 place Jean-Paul-Riopelle
                                                                H2Z 2B3 – Montréal - Québec
                                                                Canada
Subject:        Case M.10222 - CDPQ / TELEFÓNICA / FIBRASIL JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 26 March 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Caisse de
        dépôt et placement du Québec (Canada) and Telefónica S.A. (Spain) acquire within
        the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control
        over the whole of FiBrasil Infraestrutura e Fibra Ótica SA ( Brazil) by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for CDPQ: long-term institutional investor managing funds primarily for public
              and parapublic pension and insurance plans. It invests these funds globally in
              major financial markets, private equity, infrastructure, and real estate,
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 117, 6.04.2021, p. 8.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---        for Telefónica: parent company of the Telefónica group, which is an international
        group active in the telecommunications sector, offering communication,
        information and entertainment solutions, with a presence in several EU Member
        States (Spain and Germany), the United Kingdom, and several Latin American
        countries, and
       for FiBrasil: joint venture dedicated to the construction, development and
        operation of a neutral and independent optical fibre wholesale network in Brazil.
        FiBrasil is set to deploy and operate fibre-optic networks in selected mid-size
        cities across Brazil, and to offer fibre-to-the-home wholesale access to all
        telecommunications service providers.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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