CMA Announces In-depth Investigation On Acquisition Of CWT Holdings By Global Business Travel

(RTTNews) - The CMA announced it has referred the anticipated acquisition by Global Business Travel Group, Inc of CWT Holdings, for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

On 30 July, the CMA said the merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address competition concerns. On 6 August, GBT informed the CMA that it would not offer undertakings to the CMA.

The CMA has decided to refer the merger to its chair for the constitution of a group to conduct a phase 2 investigation.