London – As part of its response to a government directive to support economic growth, UK competition regulators announced new measures intended to address the “pace”, “predictability”, “proportionality” and ”process” in its scrutiny of mergers, promising “rapid, meaningful change”. A draft strategic steer to the Competition and Markets Authority on Thursday set out the government’s priorities.
The following can be attributed to CCIA Senior Director and head of CCIA’s London office Matthew Sinclair:
“The CMA’s announcement is a welcome commitment to give businesses the predictability and flexibility needed to innovate and invest. Many merger deals are good news for startups and consumers and unwarranted investigations deter deals and the funding startups need.
“The regulator should build upon this by showing restraint in its use of the exceptional powers it has been given under the new digital markets regime.”
“Hopefully the Government’s strategic steer will add a fifth “P” to Sarah Cardell’s list: avoiding ‘premature’ intervention in dynamic new markets such as AI.”
