Spain’s National Commission on Markets and Competition (CNMC) has granted non-definitive approval to Decathlon’s plan to acquire 18 Intersport assets in Spain, most in the Canary Islands. The commission has attached commitments and conditions to its approval and is passing the matter to the Ministry of Economy, Trade and Business. The Ministry may in turn refer the matter to the Council of Ministers, which could object on grounds other than the preservation of competition.
For competition is what the Commission is worried about. “In the absence of compromises or conditions,” it writes in its press release (in Spanish), “the transaction would imply that Decathlon would control 15 assets in Tenerife, most of them in attractive areas, such as shopping centers. This could make it difficult for other operators to enter the market, especially for lack of space on the island.”
Decathlon responded with a proposal. It would run one store directly and promote the entry of competitors into 13 other Tenerife locations over three, four and five months. It would also drop current and future exclusivity clauses in the island’s shopping centers.
Having judged the proposal insufficient, the CNMC is in addition requiring Decathlon to notify landlords and competitors immediately, to expedite third-party entry, and extending by two months the search for a buyer for one of the divestment assets.
Decathlon notified the CNMC of the deal on Dec. 31, 2025. The commission opened a second-phase review on March 30, 2026, after finding Decathlon’s initial commitments insufficient to address the concentration risk it had identified in Tenerife.
The deal proceeds from Intersport Spain’s insolvency. The retailer entered liquidation in 2025, after failing to win creditor backing for a planned restructuring.
