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UK: Watchdog to examine NSF’s hostile bid for Provident Financial

By  |  May 29, 2019

Britain’s competition watchdog is considering whether Non-Standard Finance’s (NSF) hostile £1.3 billion (US$1.6 billion) takeover of rival Provident Financial would result in a substantial decrease in competition.

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    The Competition and Markets Authority (CMA) had stated in February that the two doorstep lenders would have to hold off from integrating after any deal, to protect staff and customers while it considers the market impact.

    The CMA is now examining NSF’s plans to demerge its home credit business and whether this would address potential competition concerns.

    The CMA is asking for comments by June 12 and is set to make a decision on July 23. It comes ahead of a deadline on June 5 for the offer to be declared wholly unconditional.

    Full Content: Financial Times

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