EXPGY Experian Plc (QX)

By Adam Clark

The U.K.'s Competition and Markets Authority said Wednesday that it has found Experian PLC's (EXPN.LN) takeover of credit-data rival ClearScore could reduce competition.

The CMA said its phase 2 investigation provisionally found the combination of the two largest credit-checking firms in the U.K. would substantially reduce the pressure to develop innovative offers and make service improvements.

The CMA is now asking for views on the provisional findings by Dec. 19 before making a final decision on the acquisition before the deadline for its final report in March.

Experian said it was disappointed by the findings and argued the acquisition would have a positive impact on competition. The FTSE 100 company said it will continue to engage with the CMA and seek to address its concerns.

Experian in March announced the acquisition worth 275 million pounds ($351 million) and said it expected to close the deal in 2018.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

November 28, 2018 02:32 ET (07:32 GMT)

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