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UK: Watchdog considers OVO/SSE deal probe

By  |  October 24, 2019

The Competition and Markets Authority (CMA) stated it was looking into whether Ovo Energy’s £500m acquisition of energy supplier SSE’s retail arm will harm competition. SSE’s retail energy business supplies around 3.5m households in the UK.

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    The watchdog said it was inviting comments on the transaction from interested parties until 6 November.

    Alistair Phillips-Davies, SSE chief executive, said: “We have long believed that a dedicated, focused and independent retailer will ultimately best serve customers, employees and other stakeholders – and this is an excellent opportunity to make that happen. OVO shares our relentless focus on customer service and has a bold vision for how technology can reshape the future of the industry. I’m confident that this is the best outcome for the SSE Energy Services business and customers.”

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