The European Commission has given green light to the acquisition of the French group Eurosport by the U.S. company Discovery, and the transaction appears not to pose any problem in terms of European Merger legislation.
According to the description made by the European Commission, Discovery is a global media corporation while Eurosport is a pan-European sports channel.
In such circumstances, the Commission concluded that the acquisition of Eurosport by Discovery will not lead to competition worries, especially because the two parties involved in the transaction have moderate market shares in areas where they operate.
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In December 2012, Discovery Communications paid 170 million euros to acquire 20% of shares in the Eurosport group that includes Eurosport International and Eurosport France.
Early this year, the American entertainment channel increased its stake in the pan-European channel Eurosport from 20% to 51%, thus taking control of the sporting media group.