19 conditions attached to takeover of NTL

CABLE TV giant UPC’s €325 million takeover of NTL’s Irish operations was given the go-ahead by the competition watchdog yesterday — but it attached 19 conditions.

The Competition Authority said the takeover would be allowed to proceed but instructed UPC, a subsidiary of American company Liberty Global, to put in place a series of steps to address anti-competitive concerns. The authority said it was “specifically concerned” about cross-ownership interests linked to international media giant News Corporation and its BSkyB satellite broadcasting subsidiary.

Leading Liberty Global shareholder, John Malone, has an 18% stake in News Corporation.