CMA To Investigate Restore Acquisition Of TNT Records Management Unit

LONDON (Alliance News) - The UK Competition & Markets Authority said Friday it has served an ...

Alliance News 4 May, 2018 | 12:17PM
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LONDON (Alliance News) - The UK Competition & Markets Authority said Friday it has served an initial enforcement order on the acquisition of a unit of TNT UK Ltd by office services provider Restore PLC.

In late March, Restore acquired the the records management business of FedEx Corp-owned TNT UK - TNT Business Solutions - for GBP88.0 million.

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The CMA - a monopoly regulator - issued the initial enforcement order meaning it is looking to review the acquisition and its effects on competition after completion, pausing further integration of the businesses.

Shares in Restore were trading marginally lower at 570.00 pence.

By Ahren Lester; ahrenlester@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Restore PLC 412.50 GBX -0.36 -
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