UK competition watchdog looking into OVO deal for SSE's retail arm

Credit: REUTERS/RUSSELL CHEYNE

The UK Competition and Markets Authority (CMA) said on Thursday it was looking into whether OVO Energy's 500 million pound ($646.00 million) deal to buy power company SSE Plc's retail arm will lessen competition in the United Kingdom.

Oct 24 (Reuters) - The UK Competition and Markets Authority (CMA) said on Thursday it was looking into whether OVO Energy's 500 million pound ($646.00 million) deal to buy power company SSE Plc's SSE.L retail arm will lessen competition in the United Kingdom.

SSE's retail energy business is one of the "Big Six" in the British market, supplying energy and related services to around 3.5 million household customers.

The CMA said it was inviting comments on the deal from interested parties until a Nov. 6 deadline. (https://reut.rs/2oc9RsE)

($1 = 0.7740 pounds)

(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223 8780; Twitter: @sampath_uday; Reuters Messaging: UdaySampath.Kumar.thomsonreuters.com@reuters.net))

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