JCDecaux decides not to pursue the acquisition of Clear Channel in Spain

In May 2023, JCDecaux announced the signing of an agreement with Clear Channel Outdoor Holdings, Inc. for the purchase of its activities in Spain through the acquisition of the entire share capital of Clear Channel Spain. This potential acquisition, however, depended on authorization from the Spanish competition authority (Comisión Nacional de los Mercados y la Competencia).

And more than a year after this announcement, the outdoor communications specialist finally decided not to pursue this operation. “After more than 14 months of investigation, JCDecaux regrets having to decide not to continue this operation which was to complete its presence in Spain but whose economic and strategic interest as well as the feasibility are called into question by the indications of the Spanish Authority on the nature, timetable and modalities of implementation of the commitments required for its authorization”indicates the company in a press release.

Clear Channel will continue its activities in Spain

In another statement, Scott Wells, CEO of Clear Channel Outdoor, claims to have acted “in good faith to enable JCDecaux to receive approval and complete the transaction.” The latter, however, specifies that his company “will continue its activity in Spain“.