Seeking Alpha

Court quashes approval of Liberty's purchase of German firm

  • A higher regional court in Duesseldorf in Germany has overturned the approval by the country's cartel office of Liberty Global's (LBTYA) €3.16B ($4.2B) acquisition of KabelBW and ordered the regulator to have another look at the deal.
  • The cartel office had authorized the transaction at the end of 2011, imposing some tough conditions due to Liberty Global owning UnityMedia, Germany's second-largest cable operator.
  • The latest decision represents an interim victory for Deutsche Telekom (DTEGF.PK), which had challenged the approval of the deal.
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