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BT's joint venture with Warner Bros Discovery cleared by competition watchdog

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LONDON (Reuters) -Britain's competition watchdog on Friday approved BT Group's deal to combine its sports broadcasting business with Warner Bros. Discovery.

BT, the country's biggest broadband and mobile provider, agreed a sports broadcasting tie-up with Discovery in May after months of discussions with the U.S. media company.

In June, the UK's Competition and Markets Authority (CMA) started what it calls a Phase 1 investigation on whether the joint venture would reduce competition in Britain.

The CMA said on Friday it would not refer the deal to a in-depth Phase 2 probe.

BT Group and Warner Bros. Discovery welcomed the decision.

(Reporting by James Davey; editing by William James and Jason Neely)

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