KIEV, May 15 - Time Warner Inc. has received a permit from the Antimonopoly Committee to buy over 25% of shares in Central European Media Enterprises Ltd. (CME, Bermudan Islands), which controls 1+1 and Kino TV channels in Ukraine.
The AMC posted the information on its Web site on Thursday.
CME and Time Warner in late March reported that Time Warner Inc. will invest $241.5 million in Central European Media Enterprises Ltd., and acquire a 31% stake in the company capital in exchange. The deal is expected to close by the end of the second quarter.
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