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Thursday, August 28, 2014

Liberty Global to win conditional EU approval for Ziggo buy - sources, (NASDAQ: LBTYA)

U.S. cable TV provider Liberty Global will gain EU antitrust approval to acquire Ziggo on condition it sells a pay TV channel and doesn't block rivals from its internet network, two people familiar with the matter said on Thursday.This would be the fourth clearance of a major telecoms deal by the European Commission, after Telefonica's two transactions in Germany and Ireland, and Vodafone's cable purchase in Spain in recent months.Liberty Global, controlled by billionaire John Malone, earlier this month strengthened an offer not to block so-called over-the-top TV service providers such as Netflix from accessing its Internet network for four years, another source said.The source declined to provide details. Over-the-top companies deliver programming over the Internet and are fast gaining popularity at the expense of live TV viewing.

Shares of LBTYA traded higher by 0.55% or $0.24/share to $43.99. In the past year, the shares have traded as low as $37.98 and as high as $46.46. On average, 3313430 shares of LBTYA exchange hands on a given day and today's volume is recorded at 1095612.