The Secretary of State for Culture, Media and Sport has said there’s no grounds to intervene in Comcast’s takeover of Sky.
Matt Hancock’s statement follows Comcast Corporation’s formal notification to the European Commission of its intention to acquire the entire issued share capital of Sky plc.
“Having reviewed the relevant evidence available, I can confirm that I have today written to the parties to inform them that I am minded not to issue an EIN on the basis that the proposed merger does not raise concerns in relation to public interest considerations which would meet the threshold for intervention”
Interested parties have until 5pm on Thursday 24 May to submit any written representations about the merger.
Comcast has made a formal £22 billion bid for Sky, valuing the broadcaster and TV platform at £12.50 per share.
