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Business

Anti-Trust Authority Stops Cable Merger

Germany's Federal Cartel Office has refused to approve market leader Kabel Deutschland's bid to takeover three regional cable TV providers in western Germany. Kabel Deutschland (KDG) received the "expected" notice on Monday, a spokesman for the company said. KDG would be willing to make concessions to the anti-trust authority, he added. The company wants to acquire Ish in North Rhine-Westphalia, Kabel in Baden-Württemberg and Iesy in Hesse for €2.7 billion ($3.3 billion), which would allow it to reach 17 million households, 7 million more than now. All four companies were previously part of Deutsche Telekom, which sold them to financial investors. Opponents of Kabel Deutschland's takeover plans allege that the company would assume a monopoly similar to that which Deutsche Telekom previously had.