BARCELONA (Agefi-Dow Jones)–The UK competition authority, the Competition & Markets Authority (CMA), announced on Tuesday that it would examine proposals from Bouygues and Equans to resolve competition concerns related to their rapprochement.
The group present in construction, media and telecoms decided in November 2021 to buy Equans from the energy group Engie for a valuation of 7.1 billion euros. On July 19, the CMA had expressed its concerns about this takeover, fearing that it would weaken competition in the context of the current call for tenders for the catenary of the High Speed 2 high-speed line in the United Kingdom.
On Tuesday, Britain’s competition regulator said Bouygues and Equans had put forward potentially successful proposals to address a possible weakening of competition.
The authority now has until September 28 to decide whether to accept these proposals or extend the deadline until November 23, if there are reasons to extend it.
-Ed Frankl, Dow Jones Newswires
(French version and contribution Julien Marion) ed: VLV
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Dow Jones Newswires
August 02, 2022 02:57 ET (06:57 GMT)