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European deals: Liberty Global/Ziggo deal reapproved; Nokia closes Withings sale

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European deals: Liberty Global/Ziggo deal reapproved; Nokia closes Withings sale

S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from May 28 to June 1.

TOP NEWS

* As expected, the European Commission has reapproved Liberty Global PLC's acquisition of Dutch cable operator Ziggo NV, subject to certain conditions. Liberty Global offered to remove "clauses in channel carriage agreements that limit broadcasters' ability to offer their channels and content over the internet" and to exclude such clauses in future channel carriage deals for a period of eight years from the decision. The cable giant also committed to "maintain adequate interconnection capacity through at least three uncongested routes into its internet network in the Netherlands," also for eight years from the decision date, and not to repurchase the Film1 channel. Upon Liberty Global meeting the commitments, the commission said it would refrain from raising any further competition concerns.

Earlier in April, Liberty Global re-sent its request to EU antitrust regulators for clearance of its takeover of Ziggo, six months after the European General Court annulled the approval in October 2017, citing procedural reasons — a result of Dutch telecom group KPN NV's appeal to overturn the European Union's initial approval of the 2014 merger between cable rivals Liberty-owned UPC and Ziggo.

* Deutsche Telekom AG unit T-Mobile Netherlands said it is disappointed by the European Commission's decision to approve the Liberty Global-Ziggo merger, Telecompaper reported May 31.

* Nokia Corp. completed the sale of its digital health business, Withings SA, to the latter's co-founder and former chairman, Éric Carreel. The Finnish company planned the sale after conducting a review of strategic options for the unit. The decision is part of Nokia's focus to become a business-to-business and licensing company.

M&A media

* Bulgaria's Commission for Protection of Competition has begun probing into PPF Group NV's proposed takeover of NOVA Broadcasting Group AD, Broadband TV News reported June 1, citing Capital. The watchdog noted the horizontal overlap between the companies' activities in the online trading sector.

* Zynga Inc. purchased privately held mobile game developer Gram Games Ltd. for $250 million in cash and a three-year earnout based on the team's achievement of profitability goals that align with Zynga's long-term growth plans. The acquisition of Gram Games aligns with Zynga's plans to grow its live services, create new franchises and build out its capabilities on emerging platforms, the company said in a May 30 news release. Founded in 2012, Gram Games is a mobile game developer with studios in London and Istanbul.

M&A communications

* Czech operator Dial Telecom as is set to acquire Casablanca INT sro's telecom division, beginning July 1, Telecompaper reported June 1. The latter offers internet, data transmission and public telephone services, among others.

* Romania's Digi Communications NV completed the purchase of Hungarian alternative operator Invitel for €135.4 million, Broadband TV News reported May 31, citing ZF.

* Boston-based Iron Mountain Inc. paid €205 million, or $235 million, to acquire the Dutch data-center businesses of EvoSwitch Netherlands BV and EvoSwitch Global Services BV from EvoSwitch International BV. The two businesses, known as EvoSwitch NL, provide multitenant data-center space and operate one of the largest colocation facilities centers in the Amsterdam metropolitan region. The acquisition follows Iron Mountain's agreement in October 2017 to buy two Credit Suisse data centers in London and Singapore for about $100 million.

* Deutsche Telekom said May 30 that it has completed the deal to acquire an additional 5% stake in Greek operator Cosmote SA, or OTE, for about €284 million. Following the deal to purchase an additional stake from the Hellenic Republic Asset Development Fund, the German company now owns 45% of OTE.

* Swiss municipal utilities provider EW Höfe AG said May 28 that it has sold the cable network in Höfe to its long-standing partner, UPC Schweiz.

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