Policy

EU OKs Cable Buy

3/04/2005 8:12 AM Eastern

The European Union Commission Friday cleared the purchase of several French cable companies owned by France Telecom and Vivendi Universal by British private-equity firm Cinven Group Ltd., AP reported.

Cinven will own 50.01% of the combined cable businesses with 1.7 million subscribers, while Luxembourg-based cable operator Altice will own 10% and FT and Vivendi will each hold 20%, according to AP.

EU regulators said in a prepared statement that the deal "would not significantly impede effective competition,” AP reported.

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