European regulator approves Comcast-NBCU deal
15 Jul 2010
The European anti-trust regulators approved the $13.75 billion merger of Comcast Corporation and NBC Universal (NBCU) on Tuesday, which now awaits clearance from the US regulators.
"After examining the operation, the European Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it," the Brussels-based commission said in a statement.
The companies' combined market share remains ''very limited'' in the EU region ''with only a limited increment resulting from the transaction,'' the commission said.
Unlike other technology and pharmaceutical sector mergers, the EC took less than six weeks to come to a conclusion that the deal posed no anti-competitive threats in the EU.
The EC was able to approve the deal quickly as Comcast does not have any European cable holdings.
Meanwhile in the US, the deal has to be approved by the Federal Communications Commission (FCC) and the Department of Justice. This week, the FCC stopped the 180 day review of the merger in 45 days and extended it by 135 days starting from 13 July as it seeks more information on the deal.
