UK: Watchdog promises ‘in-depth merger investigation’ for Diebold Nixdorf

The Competition and Markets Authority in the United Kingdom is asking Diebold and Wincor Nixdorf for more details about the merger the companies completed earlier this week.

The UK agency, which is responsible for investigating mergers, markets and regulated industries and enforcing competition and consumer law, said Friday that it’s concerned because the merger reduces the number of companies supplying automatic teller machines in the country.

Diebold and Wincor Nixdorf face “face an in-depth merger investigation” unless the companies “offer undertaking to address competition concerns,” according to a CMA press release. Friday’s announcement expands on a late June announcement that CMA had launched a merger inquiry.

The companies have until next Friday to offer proposals to resolve the CMA’s competition concerns. If the issue isn’t resolved, the merger faces a deeper investigation.

Diebold announced Monday that it had closed its combination with German ATM maker Wincor Nixdorf, and on Tuesday the companies began operating as Diebold Nixdorf. The companies agreed to combine last November.

When announcing the deal’s close, Diebold officials acknowledged the CMA’s ongoing inquiry. The company said Diebold and Wincor Nixdorf brands and operations would remain distinct pending completion of the CMA’s review of the transaction.

Full Content: CantonRep

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