MoneySavingExpert sale could be in jeopardy as OFT has a nose around

19 July 2012

martin lewis Only a few weeks ago, it was looking as though the MoneySavingExpert was about to become the MoneySpendingExpert, as Martin Lewis announced plans to sell off his thriving website to MoneySupermarket for a tasty £87m.

BUT… its not a done deal just yet. The Office of Fair Trading are probing the deal, wondering whether it will “result in a substantial lessening of competition” under the merger control provisions of the Enterprise Act 2002.

The OFT is currently in consultation with customers and competitors of the two companies and if they feel as though there are sufficient worries, they can refer the deal to the Competitions Commission.

Our breath is literally bated here. Bated.

TOPICS:   Consumer Advice

15 comments

  • qwertyuiop
    I'd love the sale to be blocked, Lewis has already fucked his reputation hard in the rectal cavity thanks to his selling out. The sweet irony would be if he ends up a penniless douchebag as opposed to a rich one.
  • azertyuiop
    Of course qwertyuiop has saved millions of us millions via his own personal free advice and therefore has a right to make his totally ignorant and foolish comment. Martin Lewis deserves all the money he can muster as far as I'm concerned. I've and many others have been helped by his advice over the many years he's being running the site and through his radio and TV broadcasts. I'd love you to be blocked from this site for being a moron.
  • Majorie D.
    Can't stand the man. Hope it all goes tits up. Totally two-faced of him to sell out.
  • qwertyuiop
    azertyuiop, the man got bored of helping people and saw £££ in his eyes, that's the sad truth to the matter. A site like that should be independantly owned so as to avoid bias. By handing over the reigns to MoneySupermarket, the ethos of the site is going to change, whether Martin wants it to or not. I'm not the only one with their eyes opened to this dick move, as no doubt this comments section will continue to prove. You need to stop living in the dark my friend.
  • Sicknote
    Seems to me over the last 24 months that Martin Lewis got bored of saving us money and instead preferred stuffing his knickers with cash in kick backs.
  • roge
    Hope Martin gets his cash. Helped lots of people. Grew a successful business in the process. Gave loads of cash to charity. One of the good guys
  • Yip m.
    Yeh- what an arsehole for wanting some cash for helping millions of people out. I mean who has any right to build a very successful business and sell it for the maximum someone will pay? These success stories are terrible. Down with the self made millionaires!!! Some people on here are a bunch of jealous morons who have fuck all left of their pathetic lives to be happy about.
  • qwertyuiop
    If I was the jealous sort then I'd be jealous of pretty much anyone in the public eye. The problem isn't that he's made a lot of money, the problem is that he's sold his website to the wrong people. No-one would give a shit if it was sold to a random businessman looking to invest, one that doesn't have an ulterior motive. Moneysupermarket will not treat the website well, they will look after their own interests, not those of the common man, who the site has meant to have helped.
  • zeddy
    @qwertyuiop: And you have closely followed his public announcements that he retains complete editorial control and can walk away with his name if it isn't complied with?
  • qwertyuiop
    He retains complete control for 3 years, yes (and no doubt your meaning of the word complete may differ to that of MoneySupermarket's). As soon as he gets that money, he no longer owns the site - ultimately he can be overruled.
  • me
    who cares, its only a website.
  • qwertyuiop
    A lot of people cared, then suddenly didn't. It's a bit like the Death Star blow up Alderaan.
  • oliverreed
    He's not selling out for £87.00, it's £87,000,000.00, right he's a cunt but fuck who wouldn't sell out for that amount of cash. He'll just be a rich cunt now.
  • Sawyer
    I don't begrudge the man taking his own advice and making a mint. He'd be daft not to. But I'm not sure where all these closet moneysavers are coming from. Has Martin Lewis really helped millions? I've been getting his emails for years and found the best moneysaving advice to be a 50p car wash voucher. Given that I wasn't going to wash my car had it been the usual price, if anything he's caused me to spend more money. The majority of website is just aggregated deals from other sites, messily assembled so it looks like there's more content than there actually is. The £87m is for the 7 million email subscribers, and nothing more. Not sure the OFT really has anything to investigate.
  • Jerec
    @oliverreed Agreed, I'd like anyone one of you spotty oiks to hand on heart say "I would never sell something that I made for free and sell it for £87 million pounds". Anyone says they would, is a lying twat.

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