MEO - Serviços de Comunicações e Multimédia, S.A. agreed to acquire 94.7% stake in Grupo Media Capital, SGPS, S.A. (ENXTLS:MCP) from Vertix SGPS, S.A. for an enterprise value of €440 million on July 14, 2017. Under the terms of the acquisition, the acquisition is subject to customary debt, debt-like and working capital adjustments. It is subject to customary closing conditions including approval by Prisa shareholders and regulatory approval. An extraordinary general meeting of Promotora de Informaciones S.A's shareholders, parent of Vertix to approve the transaction will be called on October 30, 2017. As on September 19, 2017, The National Communications Authority rejected the acquisition by MEO saying it could create significant obstacles to competition. As on May 29, 2018, the Competition Authority (ADC) rejected the commitments presented by Altice for the acquisition of Media Capital because they do not protect the interests of consumers and do not guarantee competition. The acquisition is expected to be immediately accretive to Altice’s operating free cash flow before taking into account any benefits of the transaction. Morgan Stanley acted as financial advisor to Promotora de Informaciones. Antonio Villacampa, Catarina Tavares Loureiro, Carlos Costa Andrade, Miguel Stokes, Filipe Romão, António Castro Caldas, Joaquim Caimoto Duarte and Tânia Faria of Uría Menéndez - Proença de Carvalho acted as legal advisors to Altice N.V. Gómez-Acebo & Pombo Abogados, S.L.P. acted as legal advisors to Vertix SGPS, S.A. BNP Paribas Corporate Finance acted as financial advisor to MEO - Serviços de Comunicações e Multimédia. MEO - Serviços de Comunicações e Multimédia, S.A. cancelled the acquisition of 94.7% stake in Grupo Media Capital, SGPS, S.A. (ENXTLS:MCP) from Vertix SGPS, S.A. on June 18, 2018. Termination results from non-fulfillment on long-stop date of condition to obtain relevant authorization from antitrust authority.