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CMA says Studio Retail's Findel Education disposal raises concerns

Fri 16 October 2020 10:51 | A A A

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(Sharecast News) - The Competition and Markets Authority said on Friday that Yorkshire Purchasing Organisation's proposed acquisition of Findel Education from Studio Retail raises competition concerns.

The competition watchdog said the merger could result in a substantial lessening of competition and will be referred for a phase 2 investigation unless the parties involved can offer remedies to its competition concerns.

Studio Retail, formerly known as Findel, said it was disappointed by the CMA's provisional findings.

"The company will be working with YPO to understand the rationale behind the provisional findings and further engage with the CMA as appropriate ahead of its final report," it said.

Studio announced in December 2019 that it had agreed to sell Findel Education to YPO for £50m.

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