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21st Century Fox receives EU clearance for proposed acquisition of Sky

MUMBAI: The European Commission has cleared Rupert Murdoch-controlled 21st Century Fox’s proposed acquisition of Sky for £11.7 billion.
“21st Century Fox welcomes today’s decision by the European Commission clearing unconditionally its proposed transaction to acquire the outstanding shares of Sky that it does not already own. We now look forward to continuing to work with UK authorities and are confident that the proposed transaction will be approved following a thorough review process,” 21st Century Fox said in a statement.
“The Commission found that the proposed transaction would lead to only a limited increase in Sky’s existing share of the markets for the acquisition of TV content as well as in the market for the wholesale supply of TV channels in the relevant Member States,” the European Commisssion said.