Wednesday 18th October, 2017
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EU approves AT&T's $85.4bn deal for Time Warner

EU approves AT&T's $85.4bn deal for Time Warner

AT&T Inc has won ap­proval from the Euro­pean Commission for its planned $85.4 billion acqui­sition of Time Warner Inc, the No. 2 U.S. wireless carrier said on Wednesday.
 
The merger was widely ex­pected to be cleared in Europe but still requires approval from the U.S. Department of Justice. The deal 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 op­posed 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.
 
The Justice Department, which is reviewing documents submitted on the proposed merger, has to prove a proposed deal harms competition in or­der to block it.
 
“I think what everybody is waiting for is (to see) whoev­er will become head of the an­ti-trust division of the Depart­ment of Justice,” said Roger Entner, an analyst at Recon An­alytics.

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