London – As UK Competition and Markets Authority (CMA) closes its consultation on changes to its merger guidelines, the Computer & Communications Industry Association published its response and challenged the regulator to deliver on its “4Ps” commitment to pace, predictability, proportionality and process.
CCIA welcomed the CMA’s expressed intentions and changes such as a 40 working-day KPI for pre-notification, for example. However, CCIA expressed concerns that missing opportunities to avoid disproportionate barriers to global deals and a counterproductive increase in the documentation expected, could mean the UK’s changes will not deliver on those aspirations.
The following can be attributed to CCIA Senior Director and head of CCIA’s London office Matthew Sinclair:
“The CMA’s intentions are laudable. Many businesses have felt that the UK merger regime has become too unpredictable and onerous particularly for deals that are global in scope. There are positive changes here, but unfortunately they might be undermined by missed opportunities and a troubling increase in the documentation expected. The CMA should use this consultation as an opportunity to deliver the streamlined process that markets need and Ministers have made clear they expect.”
