The proposed acquisition of NBC Universal by Comcast Corporation does not infringe competition laws in the European Economic Area (EEA), the European Commission announced on Wednesday.
The Commission was notified of Comcast's plans to acquire the U.S. media and entertainment company just last week, but quickly cleared it under the E.U. Merger Regulation as the parties' combined market share in the E.U. remains relatively small.
Comcast owns cable networks in the U.S. and also has a stake in Metro-Goldwyn-Mayer (MGM), the film and entertainment company. However as the company has no cable TV assets in Europe, the merger will not create any vertical relationship between Comcast's cable distribution platform and NBC Universal's programming in the EEA.
Comcast is a Philadelphia-based corporation traded on NASDAQ. NBC Universal is a global media and entertainment company that produces and distributes entertainment, news and information programs.