The European Commission cleared Wednesday U.S. cable operator Comcast Corp. (CMCSA) to buy a controlling stake in General Electric's (GE) media and entertainment company NBC Universal.
"The transaction would not significantly impede effective competition" in the European Union, the commission, the EU's antitrust body, said in a statement.
Comcast has reached a deal with GE to create a $30 billion joint venture between its cable networks unit and NBC Universal, which owns cable networks USA, MSNBC and CNBC as well as the NBC broadcast network.
Source: Wall Street Journal
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88; alessandro.torello@dowjones.com
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