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