CMA provisionally clears Poundland/99p merger
The UK Competition and Markets Authority has published its preliminary findings in relation to its Phase 2 review of Poundland¬ís proposed acquisition of 99p Stores.
The CMA has provisionally concluded that the merger “may not be expected to result in a substantial lessening of competition” and has therefore provisionally cleared the anticipated acquisition of 99p Stores by Poundland.
In a statement, Poundland said it welcomed the CMA's provisional conclusion and is studying the report's findings in detail.
The CMA’s full review will be published in October.
Jim McCarthy, chief executive of Poundland, said: "We welcome the CMA's provisional clearance of our acquisition of 99p Stores and we look forward to a satisfactory conclusion to its Phase 2 review. We continue to believe that the acquisition of 99p will be great for customers and for shareholders alike."
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