JCDecaux will not pursue the acquisition of Clear Channel Spain business

JCDecaux SE (Euronext Paris: DEC), announced on 30 May 2023 that it had signed an agreement with Clear Channel Outdoor Holdings, Inc. to acquire its business in Spain through the acquisition of the entire share capital of Clear Channel Spain, subject to approval by the Spanish competition authority (Comisión Nacional de los Mercados y la Competencia, the “Spanish Authority”). Following more than 14 months of examination, JCDecaux regrets having to decide not to proceed with this operation, which was supposed to complement its presence in Spain, but whose economic and strategic interest, as well as its implementation, are called into question by the indications provided by the Spanish Authority on the nature, schedule and implementation of the commitments required for its approval.