OFT concerned over ScotRail acquisition

www.moneynews.co.uk > Other > OFT concerned over ScotRail acquisition

OFT concerned over ScotRail acquisition

LONDON, UK - The Office of Fair Trading today announced that it is to refer Firstgroup plc's proposed acquisition of the ScotRail franchise to the Competition Commission.

The OFT revealed it had reservations that the acquisition would cause competition in the supply of passenger transport services on point-to-point routes in Scotland to significantly diminish.

John Vickers, OFT Chairman commented: “The evidence currently available is not sufficient for the OFT to be able confidently to reject that view and therefore, consistent with the recent judgment of the Competition Appeal Tribunal in IBA Health Ltd v OFT, the OFT has decided to refer this merger to the Competition Commission.”

The CC is required to publish its report by 28th June 2004.

Related News : Other
	Government accounts are getting better
	Public sector pay rising faster than the private sector
	Monti slaps Microsoft with record fine
	Phone bills confuse consumers
	Lib Dems vote against council tax
	Prescott claims councils are listening to tax warnings
	Fewer services, more tax
	Consumers warned about energy salesmen
	Dad's work at home worth £14,500
	Massive jackpots for Euro lottery