Regulators approve $3.9 billion tobacco co. sale

EU regulators on Friday approved the $3.9 billion acquisition of a Scandinavian cigarette company by British American Tobacco PLC.

Approval is conditional on the sale of a number of British American's brands in Norway. The company has offered to sell two roll-your-own tobacco brands in Norway, the EU said.

The commission said Friday that the sale of Denmark-based Scandinavian Tobacco Co. would not impede competition in the EU market, except for Norway where the two would have had a dominant market position without divesting two tobacco brands.

British American will have a 60 percent share of the market for cigarettes in Scandinavia.