Green light from Brussels for the takeover of Virgin Media by Liberty Global

by bold-lichterman

The European Commission has just officially given the green light for the takeover of Virgin Media by Liberty Global for an amount ultimately estimated at € 17 billion. After several movements on the European market in recent months, the takeover of the second largest British television group by Liberty Global should allow the American cable operator to give birth to the world number one in the sector of “broadband communication”.

In particular, the committee had to define whether the merger between Liberty Goal, a provider of pay-TV cable and satellite channels, and Virgin Media, specializing in the acquisition and resale of channel content to 4.9 million British subscribers, does not did not jeopardize the competitive structure of the market.

“The proposed transaction will not pose any competition concerns, in particular because the parties concerned operate cable networks in different Member States and the merged entity will have a limited position on the wholesale market for television channels in the United Kingdom and Ireland, “the European Commission said in a statement, arguing that” television content licenses are granted mainly on a national basis or for linguistically homogeneous areas. “

The new entity resulting from this merger will reach 25 million customers in 14 countries.