Liberty Global (LBTYA), Telefonica (TEF), and InfraVia's planned acquisition of Substantial Group has been cleared by the European Commission, the regulator said Tuesday.

The regulator said that the transaction does not raise any competition concerns, "given the limited impact on the European Economic Area."

In February, the three companies said they had agreed to acquire the UK-based fiber broadband provider through their joint venture, Nexfibre, for 2 billion pounds ($2.64 billion).