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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Liberty Global Ltd | NASDAQ:LBTYB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.70 | 16.00 | 21.94 | 0 | 12:00:05 |
By Tom Fairless
BRUSSELS--European Union antitrust investigators have opened an in-depth probe into Liberty Global PLC's purchase of a controlling stake in De Vijver Media of Belgium, the second deal by John Malone's international cable group that has come under scrutiny from EU regulators.
The European Commission said it was concerned that Liberty's purchase of a 50% stake in De Vijver Media could violate the region's antitrust rules. Liberty owns a majority stake in Belgium's biggest cable company, Telenet, while De Vijver owns two Dutch language TV channels.
The commission said the deal could allow the merging companies to shut out competitors from selling TV services to consumers in Flanders, a Dutch-speaking region of northern Belgium. It is also concerned that rival TV channels could find it harder to obtain access to Telenet's cable platform.
"The proposed transaction will create a close relationship between the largest TV retailer in Flanders, Liberty-controlled Telenet, and two of the region's most popular free-to-air TV channels, Vier and Vijf," the commission said in a statement.
A final decision on the case is due by Feb. 5, 2015.
The fresh probe comes as EU regulators prepare to announce their verdict on Liberty's planned 6.9 billion euros ($9.5 billion) acquisition of Dutch cable operator Ziggo, after opening an in-depth investigation in May. A decision is expected by Nov. 3.
Investors have been watching the progress of the Ziggo review closely for signs of how EU authorities will treat further deals in Europe's rapidly-consolidating telecoms sector.
Write to Tom Fairless at tom.fairless@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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