THE competition watchdog is set to sink its teeth into the proposed £2.5billion takeover of housebuilder Redrow by rival Barratt.
The deal, which was announced last month, would cement Barratt’s status as the UK’s biggest housebuilder.
The firms would develop a combined 23,000 homes a year and bring in sales of more than £7billion.
The probe by the Competition and Markets Authority comes weeks after it announced a separate investigation into eight firms — including Barratt and Redrow.
That was over claims they were sharing commercially sensitive information that could impact sites of housing and property prices.
The CMA’s inspection of the deal between Barratt and Redrow will focus on whether it creates a “substantial lessening of competition” for consumers in future.
The regulator said yesterday that it was seeking information before launching an official investigation.
A Barratt spokesman said: “We are confident that the combination of Barratt and Redrow is in the best interests of customers and will accelerate the delivery of the homes this country needs.
“We look forward to working constructively with the CMA as they undertake their review.”
Interested parties have until April 2 to submit views.
Chinese online giant JD.com says it is no longer interested in taking over Currys.
It comes just days after US firm Elliott Advisors also said it would not make another approach for Currys after a 67p-a-share bid was rejected. Currys’ shares fell 3.9 per cent to 56.60p yesterday.
Voda Sell-Off
Vodafone is selling its Italian operations to Switzerland’s Swisscom in a bumper £6.8 billion deal.
The FTSE 100 telecoms firm is returning £3.4 billion as a sweetener to investors. Voda boss Margherita Della Valle called the Italian sale the “final step in the reshaping of our European operations”.
Marta Ortega Perez, chair of Inditex and daughter of its billionaire founder, has steered Zara to record sales.
Bjorn Gulden boss of Adidas, which reported its first loss in 30 years after its Yeezy trainers deal backfired.
