EU backs BSkB buying Sky Italia

EU backs BSkB buying Sky Italia
The BSkyB deal was announced in July. TV photo: Shutterstock
The European Commission on Thursday gave the green light to BSkyB's bid to buy Sky Italia and Sky Deutschland for €8.8 billion.

"The Commission has reached the conclusion that the transaction would not raise competition concerns, since the activities of the three companies are geographically complementary," it said in a statement.

EU approval comes seven weeks after BSkyB announced the deal to create a pan-European pay-TV giant.

At the time the company said the new firm will be "a world-class multinational pay TV provider that serves 20 million customers and brings together the leading pay TV businesses in three of Europe's four biggest markets."

"By creating the new Sky, we will be able to use our collective strengths and expertise to serve customers better, grow faster and enhance returns," BSkyB chief executive Jeremy Darroch said in a statement in July.

READ MORE: BSkyB to buy Sky Italia

Member comments

Become a Member to leave a comment.Or login here.