Standard&Poor's said today that Liberty Media Corp.'s (BBB-/Stable/--) receipt of a statement of objection by the German cartel office regarding its proposed acquisition of Deutsche Telekom AG's cable TV operations, will have no impact on the current ratings or outlook on the company. While the statement casts in doubt the consummation of the cable transaction, Liberty is expected to issue a response, and the process should conclude by the end of February. In Standard&Poor's view, the transaction involved elements of operating and financial risk, although it also represented a long-term growth opportunity. Standard&Poor's expects Liberty will continue to pursue European pay TV content and/or distribution investments among its broader growth objectives, even if the
