The Moneysupermarket and MoneySavingExpert wedding is now officially on.
It’s been a rocky relationship so far. When the engagement was announced back in June, MSE stalwarts were disgusted and moneysupermarket.com shares dropped following the hit of the £87million dowry in their half year results.
And then it got worse for the troubled couple. The Office of Fair Trading (OFT) decided to poke around in the intimate details of their relationship, to make sure everything was above board and kosher. Check there was no Green Card marriage going on.
However, the OFT have now concluded their poking and prying and have decided that there isn’t enough gossip for a high profile celebrity split, and the buy out of the independent advice website by the site that provides it with most of its independently selected affiliate links will go ahead in September or October. We can’t wait to see the dress.
Although the full details of the OFT's approval have not yet been published, the OFT have stated that the relevant merger conditions have not been generated, meaning there is no bar to the takeover deal which will make Martin Lewis's grin even cheesier.
Moneysupermarket.com ‘s Chief Executive has previously defended the cost of the purchase, saying MoneySavingExpert.com is "among the most trusted brands in consumer finance, and that the combination of the two businesses "will give us a greater ability to help more customers and will accelerate progress towards our goal of helping every consumer make the most of their money". Moneysupermarket.com’s share price fell to 140.60p at the news today.
TOPICS: Consumer Advice