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UK Competition Watchdog Considering Probe Into BAE Systems Deal

LONDON (Alliance News) - The UK Competition & Markets Authority will be inviting comments into a ...

Alliance News 15 April, 2019 | 11:13AM
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LONDON (Alliance News) - The UK Competition & Markets Authority will be inviting comments into a proposed business sale by BAE Systems PLC, it said on Monday.

In January, BAE sold a 55% stake in its combat vehicles unit BAE Systems Global Combat Systems Ltd to Germany's Rheinmetall AG for GBP28.6 million.

The joint venture will be renamed Rheinmetall BAE Systems Land and will play "a major role" in new mechanised vehicles for the British army.

The CMA is investigating whether the joint venture will lead to a "substantial" lessening of competition" in the UK, and has set April 30 as the deadline for any comments.

BAE shares were flat on Monday morning at 508.80 pence each.

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BAE Systems PLC 558.00 GBX 1.20

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