Competition Watchdog To Probe Fintech Merger

Law360, London (November 19, 2019, 1:47 PM GMT) -- Britain’s antitrust watchdog is probing whether the completed merger of two companies that provide technology platforms to wealth managers will reduce competition in U.K. markets.

The Competition and Markets Authority said on Monday that it has launched an investigation into the acquisition by Scottish technology provider FNZ (Australia) Bidco Pty Ltd. of GBST Holdings Ltd., a financial technology company based in Brisbane, Australia.

FNZ, which is based in Edinburgh, said on Nov. 6 that it had finished its takeover of Australian-listed GBST. But the competition watchdog said in an enforcement order dated Nov. 14 that it will review whether the merged...

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