Aol, Time Warner Get Eu Panel Ok

Wed., Oct. 11, 2000

From Staff

European Union antitrust authorities have formally endorsed the giant merger between America Online Inc. and Time Warner Inc. after the companies provided legal guarantees they will not unfairly discriminate against their rivals, EU officials said Tuesday night.

The recommendation also provides specific pledges by the merger partners that they will divest themselves of certain European businesses. It clears the way for the deal to gain Europe-wide approval in a vote Wednesday by the 20-member executive commission that represents the EU’s 15 participating governments.

The merger, which would combine an Internet giant boasting 24 million customers with the world’s largest media and entertainment company, must still receive clearance from two regulatory agencies in the United States before it can be consummated.

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Aol, Time Warner Get Eu Panel Ok

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