'Paramount Expected To Easily Secure EU Nod For Warner Bros Deal; Paramount Likely To Seek EU Antitrust Approval In Coming Months; Paramount Aiming For Unconditional EU Green Light, Ready To Offer Minor Divestments If Required' - Reuters Exclusive

• Paramount's market share below 20% in Europe, faces fewer hurdles
• Paramount open to divesting minor channels if required
• Regulatory approvals needed from US, UK, EU

BRUSSELS, Feb 27 (Reuters) - Paramount Skydance PSKY.O is expected to easily gain European Union antitrust approval to buy Warner Bros DiscoveryWBD.O while divestments, if required to address regulatory concerns, will likely be minor, two people with direct knowledge of the matter said on Friday.

Unlike Netflix's NFLX.O aborted bid, Paramount's offer faces fewer regulatory hurdles because a combined Paramount and Warner Bros has a market share of below 20% in all markets across Europe, the people said. They spoke anonymously because of the sensitivity of the matter.

European Commission antitrust regulators usually take a tough line when market share is 30% or more. Paramount has yet to formally seek EU approval, but is providing information on its businesses.

The deal would also require approval under the EU's foreign subsidies regulation because Saudi Arabia's Public Investment Fund, Abu Dhabi's L'imad Holding Company and the Qatar Investment Authority are also bankrolling the bid. The FSR targets unfair foreign state aid.

Paramount declined to comment. The Commission did not immediately respond to a request for comment.