logo
Plus   Neg
Share
Email

CMA To Check Undertakings Offer By FirstGroup And Trenitalia In Detail

UK's Competition and Markets Authority or CMA announced Friday that it will look at undertakings offer by FirstGroup plc (FGROY.PK,FGROF.PK,FGP.L) and Trenitalia SpA in detail.

The decision is regarding the anticipated acquisition by First Trenitalia West Coast Rail Limited of the West Coast Partnership Rail Franchise.

In August, First Trenitalia West Coast Rail, which is FirstGroup' joint venture with Trenitalia UK, received the new West Coast Partnership award from the Department for Transport.

On November 7, the CMA raised competition concerns on 21 routes, 17 between Preston and Scotland and 4 between Oxenholme and Carlisle, under the new award of the West Coast Rail franchise.

On November 13, FirstGroup and Trenitalia offered undertakings to the CMA, which was considered by the agency.

The CMA now said that "there are reasonable grounds for believing that the undertaking offered, or a modified version of it, might be accepted by the CMA to remedy the substantial lessening of competition identified by the CMA."

The CMA now has until January 21, 2020 to decide whether to accept the undertaking, with the possibility to extend this timeframe to March 17, 2020 if it considers there are special reasons for doing so.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walmart Canada has apologized after a Christmas sweater featuring Santa Claus and apparently cocaine was posted for sale on the company's Canadian website. The retail giant pulled the controversial sweater from its website following a backlash on social media. However, the sweater was not available on Walmart's U.S. website. Ford Motor Co. is recalling around 262 thousand F-Series heavy-duty pickups in the U.S. and Canada citing problem with the electric tailgates that may open unintentionally. The recall involves F-250, F-350 and F-450 Super Duty trucks from the 2017 through 2019 model years. Of these, 231,664 vehicles are in the U.S., while 29,953 are in Canada. Sony's 'MLB The Show' video game series will be available on additional console platforms beyond PlayStation as early as 2021. Currently, the game series is exclusive to PlayStation. 'MLB The Show' is the MLB's officially licensed simulation baseball video game series. San Diego Studio has been creating the officially licensed baseball video games enjoyed by fans for more than 20 years.
Follow RTT
>