EU Approves BSkyB Deal

The European Union’s antitrust authority has approved BSkyB’s acquisition of Sky Italia and 57% of Sky Deutschland, saying that the transaction would not hinder competition in the European pay-TV arena. The new entity would be known as Sky Europe and would create a multinational pay-TV network.

However, the news came as the management and supervisory boards of Sky Deutschland recommended its shareholders to reject BSkyB’s offer for their shares. Earlier this month, BSkyB made a formal offer of