OCTOPUS Energy is inching closer to completing its protracted takeover of Bulb, after a High Court judge set a date for the deal to be finalised.

Justice Zacaroli yesterday confirmed the acquisition can be completed on 20 December via the energy transfer scheme, despite legal challenges from rival suppliers.

Big Six firms Centrica, Eon and Scottish Power applied for a judicial review of the deal earlier this week over concerns of the perceived lack of transparency and government funding involved in Octopus' takeover.

The judge confirmed this was now the "only obstacle" for Bulb's assets being transferred over to Octopus.

However, he also ruled out making a verdict on potential judicial reviews.

This will have to be overseen by another judge in a separate case lodged with the administrative courts.

Such a review has to be tabled before the takeover date in less than three weeks.

Centrica, EON and Scottish Power declined to comment on the latest developments.

City A.M. understands Centrica is still set to pursue a judicial review.

(c) 2022 City A.M., source Newspaper