- A number of London-listed companies are still awaiting decisions from the CMA with bated breath
- These include Pets at Home, Vodafone and the housebuilders
The Competition and Markets Authority (CMA) shoved itself into the spotlight this year after it blocked, and then waved through, Microsoft’s (US:MSFT) $75bn acquisition of Activision Blizzard. The consultation sparked a backlash against the watchdog and claims from Microsoft that the UK was “closed for business”. The government subsequently published what is officially termed a strategic steer to the CMA, saying it must create a “pro-investment environment” as well as protect consumers.
The jury is out on whether this will result in a change of direction. Chief executive Sarah Cardell has staunchly defended the regulator’s approach, saying that merger control is crucial to a “vibrant innovative economy”. She added that just 16 out of the 7,000 mergers considered since 2013 have been prohibited.