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Britain to launch in-depth probe into $14.6 billion Veolia-Suez merger

UK watchdog to move Veolia-Suez probe to in-depth phase
UK watchdog to move Veolia-Suez probe to in-depth phase   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p> -Britain’s antitrust watchdog launched on Monday an in-depth probe into the 13 billion euro ($14.67 billion) merger of Veolia and Suez after the French waste and water management groups did not offer concessions over its concerns.</p> <p>Earlier this month, the Competition and Markets Authority (<span class="caps">CMA</span>) said the deal could lessen competition and mean higher bills for councils in the UK, and gave the firms time until Dec. 14 to propose undertakings to avoid a “phase 2” investigation. </p> <p>The waste and water management groups did not immediately respond to Reuters’ request for comment. </p> <p>Last week, Veolia and Suez won EU antitrust approval for their tie-up, and the European Commission said an extensive package of asset sales addressed all its concerns about the deal.</p> <p>The deal, which was struck in April, marked a bitter and months-long dispute before the companies reached an agreement.</p> <p>Britain has the power to order the sale or divestment of part of the whole of a business if it ultimately concludes that there are competition concerns.</p> <p>($1 = 0.8860 euros)</p> </div>