23rd Mar 2016 17:38
LONDON (Alliance News) - Groupe Fnac SA on Wednesday said the French Competition Authority has decided to launch a further review into the retailer's potential acquisition of Darty PLC.
Fnac said the French Competition Authority was commencing the Phase II investigation after being formally notified of the potential acquisition on February 17. Fnac said the investigation was not indicative of competition concerns resulting from the transaction, but part of a "constructive dialogue".
"Fnac welcomes the fact that the French Competition Authority has accepted, during this Phase II investigation, to review the definition of relevant markets, and to assess the competitive pressure exerted in particular by online retailers," the company said in a statement.
Shares in Darty closed down 0.4% at 128.99 pence on Wednesday.
By Hannah Boland; [email protected]; @Hannaheboland
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