FX.co ★ CMA Announces In-depth Investigation On Acquisition Of CWT Holdings By Global Business Travel

The Competition and Markets Authority (CMA) has announced the initiation of an in-depth investigation into the proposed acquisition of CWT Holdings by Global Business Travel Group, Inc. Based on the current information, the authority believes this merger could potentially lead to a significant reduction in competition within certain markets in the United Kingdom.

On July 30, the CMA indicated that the merger would progress to a Phase 2 investigation unless the involved parties presented satisfactory measures to mitigate competition concerns. However, on August 6, Global Business Travel Group informed the CMA that it would not be proposing any such measures.

As a result, the CMA has decided to escalate the matter to its chair, who will establish a group dedicated to conducting the Phase 2 investigation.