REG - Competition and Mkts - Merger Update: GBT/CWT

Global Business TravelAnnouncement

12/08/2024 13:00

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RNS Number : 7409Z  Competition and Markets Authority  12 August 2024

Reference to a Phase 2 investigation: Anticipated acquisition by Global
Business Travel Group, Inc. of CWT Holdings, LLC

On 30 July 2024, the CMA decided that it was or may be the case that the above
Merger may be expected to result in a substantial lessening of competition
(SLC) within a market or markets in the United Kingdom.

Pursuant to section 73A(1) of the Act, the Parties had until 6 August 2024 to
offer an undertaking to the CMA that might be accepted by the CMA under
section 73(2) of the Enterprise Act 2004 (the Act). On 6 August 2024, Global
Business Travel Group, Inc. informed the CMA that it would not be offering any
undertakings. The CMA has therefore decided to refer this Merger for a phase 2
investigation pursuant to sections 33 and 34ZA(2) of the Act.

 

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