UK COMPETITION COMMISSION EXTENDS INQUIRY PERIOD INTO MACQUARIE PURCHASE OF NATIONAL GRID WIRELESS
December 13th 2007 02:46
Australia’s Macquarie Communications Infrastructure Group today informed the ASX about the release by the UK Competition Commission of a notice extending its period of inquiry into the acquisition of 100 percent of National Grid Wireless by Macquarie UK Broadcast Ventures Ltd, the parent company of Arqiva Ltd.
Macquarie Communications had previously been advised by the commission that it expected to complete its inquiry by the end of January 2008. However, the notice announces an extended period of inquiry and sets an expiry date of March 18. 2008.
The full text of the notice can be found on the Commission’s website at Really Long Link
These provisional findings, which are also available in full on the commission’s website, are under consideration by Arqiva, which will respond in due course.
In reaching its provisional findings, the commission advised that it had not yet taken into account synergies and other benefits in relation to digital switchover which will result from the acquisition. The commission has reconfirmed this in the notice extending its period of inquiry.
Arqiva and National Grid Wireless remain subject to a ‘hold separate’ arrangement during the review process and will continue to operate as discrete entities.
- From MediaBlab by Peter Olszewski via Dow Jones' Factiva
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