EU clears Liberty Global acquisition of Britain's Virgin Media

The European Commission on Monday cleared US-based cable operator Liberty Global to acquire Britain's Virgin Media in a deal worth 17.2 billion euros ($22.5 billion).

The Commission said the tie up between Liberty Global, the largest cable operator in Europe, and the second largest Pay TV firm in Britain "would not raise competition concerns" because of the nature of the business and the continued competition the new entity would face.