CMA investigates Nationwide's £2.9bn bid to buy Virgin Money UK for competition concerns.
The UK's competition watchdog, the Competition and Markets Authority (CMA), has launched a probe into Nationwide Building Society's proposed £2.9bn all-cash deal to buy Virgin Money UK. The deal, announced in March, could create the UK's second-largest savings and mortgage provider after Lloyds Banking Group. The CMA is considering whether the deal could result in a "substantial lessening of competition" in the UK.
May 31, 2024
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