This Thursday, the ERC approved a discussion draft defining the application of Article 14 of the Transparency Law to the World Opportunity Fund (WOF), a shareholder of Global Media, “due to a lack of transparency in the definition” of the chain of participation.
In its statement, the Social Communications Regulatory Authority’s (ERC) Regulatory Council states that this discussion draft determines the application of section 14 of the Transparency Act to WOF “due to a lack of transparency in determining the chain of attribution of qualified participation.” in the society of Civilized Pages.”
The WOF Foundation owns 51% of the share capital and voting rights of Páginas Civilizados, which owns 50.25% of the share capital and voting rights of Global Notícias – Media Group SA.
Author: Lusa
Source: CM Jornal
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