The acquisition of the conglomerate Time Warner by the telecommunications company AT&T has been approved by the European Commission under the EU Merger Regulation. Both companies are of the Unites States.
Time Warner is a major American multinational media and entertainment composite organization, founded in 1990. It provides global media entertainment services, including the production and distribution of television and video programming, home entertainment, feature film and video game.
AT&T is active in the global telecommunications and digital entertainment services, and is the second largest provider of mobile phone services and largest provider of fixed telephone services in the United States. In the European Economic Area (EEA), the company only provides telecommunications services to business customers.
The approval of the acquisition comes after the Commission concluded that the proposed procurement would not raise any competition concerns, as there are no overlaps between the parties’ activities in the EEA.
The business dealing was examined under the simplified merger review procedure.