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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. 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.

Liberty Global CEO says won't change Virgin Media strategy

LONDON, Feb 6 (Reuters) - Liberty Global won't change Virgin Media's strategy on network roll-out and content if its deal to buy the British cable group goes through, Liberty's chief executive said on Wednesday. The $15.75 billion deal was "compelling" for both sets of shareholders, said Mike Fries, Liberty's chief executive in a call with journalists on Wednesday. He said Liberty would continue to invest in Virgin's broadband network.

URGENT ¥¥¥ Liberty Global buys Virgin Media for $23.3 bln

US-based cable operator Liberty Global said late Tuesday that it would buy cable television firm Virgin Media for $23.3 billion in cash and stock. According to the terms of the agreement, Virgin Media stockholders will receive for each share of the Britain-based firm $17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares, which implies a price of $47.87 for each Virgin Media share. ved/ch/oh

Liberty Global buys Virgin Media for $23.3 bn in cash and stock ved/ch/oh
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