LONDON (Bloomberg) — BC Partners has won European Union approval to buy Intelsat, the world's biggest commercial-satellite operator.

BC Partners, a buyout firm based in London, agreed to acquire 76 percent of the company for $5.03 billion in June. The firm will also assume $11.4 billion of Bermuda-based Intelsat's debt.

Intelsat's 51 satellites beam television pictures for broadcasters such as CBS and Walt Disney's ABC, which need more capacity to carry high-definition programs.