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The

European Commission

conditionally approved the merger of

Vivendi

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,

Canal Plus

and

Seagram

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.

As part of the agreement, Vivendi agreed to sell a stake in British pay-TV company

British Sky Broadcasting

(BSY)

over the next two years.

Vivendi also agreed to guarantee access to film content from Seagram's

Universal

unit to other pay-TV providers, the Commission said in a statement. The European Commission said that Vivendi has also agreed to give rival Internet portals access to Universal's on-line music content.