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Liberty Global's $15.8 billion Virgin Media deal cleared in EU

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(Globalpost/GlobalPost)

BRUSSELS (Reuters) - U.S. cable firm Liberty Global <LBTYA.O> won unconditional EU regulatory approval on Monday for its $15.8 billion (10.3 billion pounds) takeover of Virgin Media <VMED.O>, a deal that pits the group against Rupert Murdoch's British satellite TV operation BSkyB <BSY.L>.

The European Commission said it did not have any competition concerns regarding the takeover, confirming a Reuters report last week.

The EU antitrust authority said this was because the companies operated cable networks in different EU countries and because of the merged group's limited market position in wholesale TV channels in Britain and Ireland.

The companies valued the deal at $15.8 billion on February 6, the day it was announced.

(Reporting by Foo Yun Chee; editing by Rex Merrifield)

http://www.globalpost.com/dispatch/news/thomson-reuters/130415/liberty-globals-158-billion-virgin-media-deal-cleared-eu