Homeowners could still sue for damages amid leasehold ground rent reforms June 24, 2021 Even though Persimmon Homes and Aviva have agreed to change the way they operate in regard to leaseholds and ground rent charges, homeowners could still be entitled to compensation, according to legal experts. Following a recent investigation by the Competition and Markets Authority (CMA), house builder Persimmon will allow its leaseholders to buy the freehold [...]
Mobile rivals raise competition concerns over £31bn O2-Virgin merger January 3, 2021 Rivals have hit out at the planned £31bn mega-merger between O2 and Virgin Media, warning the deal could harm competition in the UK telecoms market. The Competition and Markets Authority (CMA) last month referred the tie-up for an in-depth investigation after the two companies asked the regulator to fast-track its probe. In the full text [...]
CMA launches probe into billionaire brothers’ takeover of Asda December 8, 2020 The UK’s competition regulator has launched its stage one probe into the billionaire Issa brothers’ takeover of supermarket Asda. Back in October the brothers, along with private equity group TDR Capital, agreed to buy the grocer from US giant Walmart for £6.8bn. At the time, Walmart said that it expected the deal to be subject [...]
Water bills: CMA settles long-running price controls dispute March 17, 2021 The Competition and Markets Authority (CMA) today published its findings on the price controls for four water companies for 2020-2025. The group set a headline rate of return to investors of 3.2 per cent compared with 4.6 per cent in the previous price control period. It said the return is the minimum that is sufficient [...]
UK launches national security review into Nvidia’s $40bn Arm takeover April 19, 2021 The UK has launched a review into Nvidia’s planned $40bn (£30bn) takeover of British chipmaker Arm amid concerns it could harm national security. Digital secretary Oliver Dowden today issued a public interest intervention notice (PIIN) relating to the proposed deal. Cambridge-based Arm is one of the world’s leading semiconductor companies. Chips are key to technologies [...]
Supermarkets behaving badly: Asda and Morrisons bosses back ‘transparent’ fuel pricing model June 27, 2023 Supermarkets bosses have been grilled by MPs on prices at the pump and agreed to consider entering into a fuel model which would give more transparency. The government has been mulling a scheme whereby petrol stations would have to share live prices in efforts to bring more price transparency for drivers – a similar system [...]
To make Britain competitive globally, we must strip away regulatory red tape April 13, 2021 Last month, the UK’s Competition and Markets Authority (CMA) made a ruling which blocked the merger of the two British crowdfunding sites Seedrs and Crowdcube. This was wrong for a slew of reasons, not the least because Seedrs and Crowdcube are both tiny companies that should be below the regulatory radar. Both companies are currently [...]
Competition watchdog refers O2-Virgin merger for in-depth investigation December 11, 2020 The UK competition regulator has referred the £31bn O2-Virgin merger for in-depth investigation. Liberty Global and Telefonica, the respective owners of Virgin Media and O2, struck a deal to merge their UK operations back in May. Last month the Competition and Markets Authority (CMA) launched its phase one investigation into the mega-merger, arguing the potential [...]
Pfizer and Flynn Pharma to appeal £70m fine for price hiking October 27, 2022 Pfizer and Flynn Pharma have filed an appeal against the UK’s competition watchdog over its decision to fine the firms £70m for hiking the price of a life-saving epilepsy drug. Pharma giant Pfizer and privately-owned neuroscience specialist Flynn are appealing the Competition and Markets Authority’s (CMA’s) £70m fine, after the two firms previously forced the [...]
CMA to examine electric vehicle sector December 2, 2020 The Competition and Markets Authority (CMA) is launching a market study into electric vehicle charging, following the government’s move to ban the sale of new petrol and diesel vehicles to 2030. The study will focus on the supply of chargepoints for plug-in hybrid and all-electric ‘passenger’ electric vehicles, comprising cars and light vans. The move [...]