Finance
Nationwide’s £3 Billion Virgin Money Deal Gets UK Antitrust Scrutiny
- Combination will make UK’s second biggest home loan provider
- The CMA to probe whether deal raises competition concerns
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Nationwide Building Society’s £2.9 billion ($3.7 billion) deal to buy Virgin Money UK Plc will be probed by the UK’s merger watchdog.
The Competition and Markets Authority said Friday it had started the first stage of its merger process to investigate whether the the tie-up raises any competition concerns. The agency has invited market players for their comments.