FX.co ★ UK CMA Initiates Iberdrola / NWEN Merger Inquiry

The UK's Competition and Markets Authority (CMA) has initiated an investigation into Iberdrola SA's completed purchase of North West Electricity Networks (Jersey) Limited. This acquisition was carried out by Iberdrola, a leading Spanish renewable energy company, through its subsidiary, Scottish Power Energy Networks Holdings Ltd.

In August, Iberdrola announced its agreement to acquire an 88 percent stake in Electricity North West, located in the UK, for a transaction valued at 2.5 billion euros.

The CMA is now assessing whether this acquisition has led, or could potentially lead, to a significant reduction in competition in any UK markets for goods or services.