John Malone's Liberty Global will get unconditional EU clearance for its $15.8 billion bid for Virgin Media, two people familiar with the matter said on Monday, in a move which pits the U.S. billionaire against rival Rupert Murdoch.Liberty Global, Europe's No. 1 cable operator, unveiled the takeover offer for Britain's second-biggest pay-TV provider in February. The move underscores the growing rivalry between cable groups and traditional telecoms operators."The European Commission does not have any competition concerns about the deal," one of the sources said.The European Union competition authority is set to announce its decision by April 15. Antoine Colombani, Commission spokesman for competition policy, and Virgin Media declined to comment. A spokesman for Liberty Global was not available for comment.
Liberty Global, Inc. (LGI) is an international provider of video, broadband Internet and telephony services, with broadband communications and/or direct-to-home satellite (DTH) operations, As of December 31, 2011, the Company was serving 19. Shares of LBTYA remained unchanged at $73.98. In the past year, the shares have traded as low as $44.87 and as high as $75.63. On average, 3034490 shares of LBTYA exchange hands on a given day and today's volume is recorded at 0.
Virgin Media Inc. is engaged in entertainment and communications business. Shares of VMED remained unchanged at $49.32. In the past year, the shares have traded as low as $21.25 and as high as $50.06. On average, 8216690 shares of VMED exchange hands on a given day and today's volume is recorded at 0.
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