UK competition watchdog clears CareTech-Cambian deal

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(Reuters) - Britian's competition watchdog on Friday decided against referring the completed deal between CareTech Holdings Plc and Cambian Group for a Phase-2 investigation.

British social care services CareTech bought rival Cambian for 372 million pounds ($472.66 million) in August last year.

"CMA has cleared the completed acquisition by CareTech Holdings Plc of Cambian Group Plc," UK's Competition and Markets Authority (CMA) said in a statement

(Reporting by Sangameswaran S in Bengaluru; Editing by Arun Koyyur)

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