Brazilian antitrust authority approves AT&T acquisition of Time Warner

DALLAS, Texas — Brazil’s antitrust authority, the Conselho Administrativo de Defesa Econômica (CADE) has approved AT&T’s pending acquisition of Time Warner Inc.

“We appreciate the hard work by CADE to review and evaluate the AT&T-Time Warner merger and approve it based on its benefits to Brazilian consumers,” said David McAtee, Senior Executive Vice President and General Counsel, AT&T Inc.

As with the approvals obtained in Chile and Mexico, CADE approved the merger with targeted conditions to address specific issues it identified. CADE’s approval does not require the sale or divestiture of any AT&T or Time Warner assets.

With CADE’s approval, AT&T and Time Warner have received all required merger approvals outside of the United States. In the United States, the transaction remains under review by the U.S. Department of Justice. AT&T expects the transaction to close by the end of 2017.