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The European Commission has unconditionally approved the £11.7bn takeover of Sky by Twenty-First Century Fox as it would raise no competition concerns in Europe.

Brussels found that in markets such as Germany, Ireland and Austria, the takeover would lead to a limited increase in Sky’s ability to acquire TV content.

The clearance, which was judged purely on competition grounds, means the takeover has cleared a small hurdle.

A bigger risk stands in the way in the form of the UK’s Ofcom investigation on the grounds of media plurality and broadcasting standards. Ofcom is also considering whether Sky and its chairman James Murdoch meet the “fit and proper” test to hold a broadcasting license.

Copyright The Financial Times Limited 2017. All rights reserved.

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