EU gives its blessing for AT&T’s bid for Time Warner

EU gives its blessing for AT&T’s bid for Time WarnerAT&T has won approval from the European Commission for its planned $85.4 billion acquisition of Time Warner, the No. 2 U.S. wireless carrier said on Wednesday.

The EU's executive Commission said Wednesday that there are no overlaps between the companies' activities in the European Economic Area, which includes the 28-nation EU and three other countries.

It noted that while AT&T is active in global telecommunications and digital entertainment, it only provides telecommunications services to business customers in the EEA.

The deal would bind the second-largest U.S. telecommunications company with a media and entertainment conglomerate that owns CNN, HBO, the "Harry Potter" franchise and pro basketball.

The merger, which still requires approval from the U.S. Department of Justice, is expected to close by the end of the year, AT&T said.

During his election campaign, U.S. President Donald Trump had said that he opposes the merger, and in January a transition official told Reuters that Trump was still against the deal.The U.S. Federal Communications Commission does not expect to review the deal, a spokesman for the agency said last month.
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