EU Recommend Blocking AOL-Time Warner Deal - Report
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 EU Recommend Blocking AOL-Time Warner Deal - Report
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ben_fenlon Administrator Posts: 306 |
posted 09-18-2000 03:04 PM
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http://dailynews.yahoo.com/h/nm/20000918/wr/media_timewarner_dc_1.html EU Recommend Blocking AOL-Time Warner Deal - Report NEW YORK (Reuters) - The European Commission (news - web sites)'s regulators have circulated a preliminary proposal to block America Online Inc.'s (NYSE:AOL - news) proposed merger with Time Warner Inc. (NYSE:TWX - news), the online version of the European Wall Street Journal reported Monday, quoting people familiar with the situation. People close to the companies insisted that they still hoped to achieve regulatory approval and said the draft recommendation would not prejudice the final outcome of the review, said the newspaper from Brussels. European regulators have been apprehensive about the merger between AOL and Time Warner and the joint venture between Time Warner's Warner Music Group and EMI Group Plc (news - web sites) (EMI.L), raising concerns that the deals would stifle fair competition. U.S. regulators also have been concerned about the merger, focusing on the combined firm's strong market power in cities where Time Warner has cable networks. Shares of AOL and Time Warner erased the bulk of their gains during the session, and were last up 9/16 at $55-7/8 and $1 at $80-13/16, respectively. ------------------ IP: Logged |
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