EU approval is expected for cable TV company Liberty Global’s bid to purchase KPN’s Belgian wireless business for $1.4 billion, Reuters reported.
According to the report, the green light is expected in light of Liberty Global’s “constructive dialogue” with officials and the company’s reported promise to divest some of its assets to rival Medialaan to foster competition after the deal closes.
The deal between Liberty Global subsidiary Telenet and KPN’s Base Company was announced in April. The largest cable and broadband provider in Belgium, Telenet is looking to add wireless services to its bundles through the acquisition of Base.
The official deadline for the decision is March 17, Reuters said.
An approved deal would mark the latest buy for Liberty Global, which is chaired by John Malone.
In November, Liberty Global inked a deal to acquire London-based telecom company Cable & Wireless Communications for nearly $5.3 billion in stock. That deal is expected to close in the quarter ending in June 2016.