UK Watchdog Still 'Concerned' Over Investment Tech Merger
Law360, London (April 15, 2021, 4:40 PM BST) -- Britain's antitrust watchdog said on Thursday that it still has "significant concerns" over the recent acquisition by a wealth management services company of a rival after it took a closer look at the potential deal.
The Competition and Markets Authority said it has completed a second assessment of the purchase by FNZ (Australia) Bidco Pty. Ltd. of an Australian software company, GBST. The watchdog had previously ordered Scottish-headquartered FNZ to sell GBST, citing competition concerns, but FNZ appealed the decision to the Competition and Appeals Tribunal.
The regulator intervened when the appeal was filed and asked the tribunal to allow it...
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