CMA to investigate Nationwide’s planned £2.9bn takeover of Virgin Money
The UK competition regulator is to investigate Nationwide’s £2.9 billion takeover of rival Virgin Money. The Competition and Markets Authority (CMA) said it has launched a merger inquiry into the deal and has invited parties linked to the deal to provide comment.
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00:00Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06I bring you some major breaking business news this morning.
00:09The UK's competition regulator is to investigate Nationwide's £2.9 billion takeover of its rival Virgin Money.
00:19The UK Competition Markets Authority has launched a merger inquiry into the deal
00:25and has invited parties linked to the deal to provide comment.
00:29It is considering whether the deal could result in a substantial lessening of competition within the UK market.
00:35Some major announcement this morning from the Competition Markets Authority.
00:39It is to investigate Nationwide's £2.9 billion takeover of Virgin Money.
00:45My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.