The UK’s competition watchdog has today given the green light to National Grid’s whopping £7.8bn deal to buy
Based on the information currently available, the Competition and Markets Authority (CMA) said it had decided not to refer the merger to a phase 2 investigation.
Back in March National Grid announced that it would acquire the UK’s largest power distribution business as part of a push away from gas.
As a result of the purchase, electricity assets will make up around 70 per cent of its portfolio, compared to 60 per cent before the deals, according to
The
The CMA opened an investigation into the deal in June, but has now waved it through.
In a statement this morning,
“National Grid will be hosting a Capital Markets Day for investors and analysts on 18 November where it will share its plans for WPD alongside the wider group.”
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© City AM, source