Liberty Global reported to get EU approval for Ziggo takeover
Liberty Global is likely to secure the EU’s approval of its $6.5 billion takeover of Ziggo in the Netherlands if it agrees to sell of a specific TV channel, Bloomberg reported.
Should the deal be approved, Liberty Global would fold Ziggo into its Dutch cable operation, UPC, to create the single largest competitor in that country to the carrier Royal KPN.
Liberty Global has agreed to sell its Film 1 premium channel, made promises it would not impede access over the top companies such as Netflix, nor discriminate against rivals that buy its content. Bloomberg cited two unnamed sources for the information.
Officially, the two companies would acknowledge only that merger discussions are ongoing.
EU regulators have until Nov. 3 to rule on the Liberty Global’s intention to buy Ziggo.