EU may approve News Corp's BSkyB bid

Reports suggest the European Commission will not object to Rupert Murdoch's New Corp's bid to acquir

The European Union is likely to grant a regulatory clearance to News Corp's £7.8bn bid to fully acquire UK satellite broadcaster BSkyB.

Media reports say the European Commission has not found any significant anti-competitive issues with the deal and is expected to hand down its decision by Wednesday.

The EU competition watchdog is likely to clear the deal without considering the concessions offered by News Corp earlier this month.

It is understood that the decision has not yet been finalised and was still subject to a possible last-minute reversal.

The UK media regulator Ofcom is also conducting a probe into the impact of the deal on media plurality in the country and is due to submit a report to the government before 31 December.

News Corp, the owner of the Times, the Sunday Times, the Sun and the News of the World in the UK, is trying to buy the 61 per cent stake it does not already own in BSkyB.