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UK competition watchdog concerned by impact of Mitie-Rentokil deal

Stock MarketsApr 12, 2019 07:30
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© Reuters. UK competition watchdog concerned by impact of Mitie-Rentokil deal

(Reuters) - Britain's competition watchdog warned on Friday that Rentokil Initial (LON:RTO)'s already completed takeover of Mitie's pest control unit might restrict choice and lead to higher prices for customers.

"Having considered a wide range of evidence, it (CMA) has found there could be a substantial reduction in competition, which may lead to higher prices or reduced quality for customers," the Competition and Markets Authority (CMA) said in a statement.

The CMA said the deal could lead to a substantial reduction in competition and asked British pest control and business services company Rentokil to offer proposals to address these concerns by April 23 or face an in-depth investigation.

Mitie last year sold the business to Rentokil for 40 million pounds.

UK competition watchdog concerned by impact of Mitie-Rentokil deal
 

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