Foxtel has completed its $2 billion takeover of regional counterpart Austar and says pricing and billing procedures will not change for customers of either service.

The competition watchdog has given the green light to Foxtel's $2 billion takeover of Austar, but slapped strict controls on the suitor to help protect emerging internet TV services.

Pay TV operator FOXTEL is free to take over regional rival Austar after receiving the competition watchdog's approval

Austar says the $2 billion takeover offer by fellow pay TV operator Foxtel will still be put to shareholders for approval on March 30.

Regional pay TV provider Austar will seek court approval to postpone a shareholder vote on Foxtel's proposed take-over because the competition watchdog is yet to approve the deal.

Telstra’s stake in the Foxtel pay television network has been a major inhibitor to the growth of broadband in Australia according to John Porter, CEO at pay television provider Austar.