LONDON (AP) — Britain’s government says it does not intend to refer U.S. media conglomerate Comcast’s 22 billion pound ($30.7 billion) takeover offer for London-based Sky to competition authorities, saying the proposed merger doesn’t raise concerns on public interest grounds.
Culture Secretary Matt Hancock says he’s “reviewed the relevant evidence” and that he is “minded not to issue” an intervention notice.
He says the “proposed merger does not raise concerns in relation to public interest considerations which would meet the threshold for intervention”.
The parties have until 5 p.m. May 24 for submissions before he makes a final decision on whether to intervene.
By Associated Press – published on STL.News by St. Louis Media, LLC(R.A)