Britain's competition regulator starts probe into Nationwide-Virgin Money deal

Virgin Money UK

31/05/2024 07:19

May 31 (Reuters) - Britain's competition regulator said
on Friday it had started a probe into Nationwide Building
Society's  NBS.L  proposed 2.9 billion pound ($3.69 billion)
all-cash deal to buy Virgin Money UK  VMUK.L  that was announced
in March. 
    The Competition and Markets Authority said the notice on the
launch of its inquiry had been sent to the parties, and the
regulator has a deadline of 40 days for its Phase 1 decision.
    

($1 = 0.7862 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Rashmi Aich)
 ((abyjose.koilparambil@thomsonreuters.com))