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Germany: Watchdog implodes Liberty Global’s cable buyout

 |  August 14, 2013

A German court overturned an earlier clearance for Liberty Global to acquire cable giant Kabel Baden-Wuerttemberg first approved by the Federal Cartel Office, say reports. The Dusseldorf Higher Regional Court issued the ruling and will now require the Office to return to the deal for further review with a new decision, unless the court’s decision is overturned. Deutsche Telekom is sure to welcome the news as it challenged regulator’s clearance of the merger in 2011 for more than $4 billion. In an emailed statement, the state said that “concessions provided for by the Federal Cartel Office aren’t fit to make up for the increase of the market-dominating position because of the merger.” Soon after Liberty Global’s Kabel purchase, the company acquired the nation’s second-largest cable operator Unitymedia.

Full Content: Bloomberg

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