UK CMA Initiates Iberdrola / NWEN Merger Inquiry

(RTTNews) - UK's Competition and Markets Authority or CMA announced that it is investigating the completed acquisition by Iberdrola SA (IBDSF.PK), a Spanish renewable energy company, of North West Electricity Networks (Jersey) Limited.

Iberdrola made the acquisition through its unit Scottish Power Energy Networks Holdings Ltd.

In August, the company had announced its agreement to buy 88 percent of Electricity North West in the U.K. for 2.5 billion euros.

The CMA now said it is considering whether the deal has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.