The Competition and Markets Authority (CMA) is to investigate the proposed takeover of Stagecoach by National Express.
As a result, CMA has issued an initial enforcement order that prevents either business from disposing of material UK assets in the meantime. Both groups and their subsidiaries will maintain their current respective shapes while CMA’s inquiry commences.
The Authority has not yet set the dates for when it will invite comment or when it will issue a phase one...
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