T - EU approves deal for AT&T's Central European Media

The European Union has given unconditional approval to the takeover of Central European Media Enterprises (CETV) by Petr Kellner's PPF Group. That's liable to result in a $1.1B payment to CME's owner, AT&T (T +0.2%). From 2009-2013, Time Warner (now WarnerMedia) assembled a stake in the Prague-based operation. CME now expects the transaction to be completed Oct. 13; its shares had hung below the takeover price of $4.58/share amid concerns stemming from the COVID-19 pandemic and the needed EU approval. But they're at $4.57 on Nasdaq currently.

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EU approves deal for AT&T's Central European Media