Microsoft unveiled Tuesday a 22.98 percent stake in UK company Telewest Communications (quote: TWT), following an announcement Friday that it would limit its investment to a minority stake.
This meant the transaction was withdrawn from review by the European Commission.
Originally, Microsoft had planned to take MediaOne's 29.7 stake in Telewest, which would have resulted in their taking joint control of the company with Liberty Media Group, a subsidiary of AT&T.
Telewest is the second biggest cable operator in the UK, behind ntl.
Full story to follow.
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