LoveFilm International's previously announced acquisition of Amazon Europe's DVD rental business in the UK and Germany was cleared for completion by regulators yesterday. The companies plan to complete the acquisition shortly.

'We are looking forward to officially welcoming customers from Amazon in the United Kingdom and Germany to LoveFilm,' said Simon Calver, CEO LoveFilm. 'LoveFilm offers one of the largest selections of films in Europe, and we can't wait to provide these customers with our best possible home entertainment experience.'

Amazon Europe will make a cash investment in LoveFilm, becoming its largest shareholder.