UK Mortgage Software Merger Needs More Scrutiny: OFT

Law360, New York (March 17, 2011, 4:00 PM EDT) -- The U.K.'s Office of Fair Trading on Thursday requested further antitrust scrutiny of MBL Holdings Ltd.'s proposed £6.8 million ($10.97 million) bid for rival mortgage-sourcing software developer TrigoldCrystal Group Ltd.

Citing concerns that the deal would give the country's two biggest mortgage software suppliers a huge share of the market, the OFT said it handed the case off to the U.K.'s Competition Commission for an extended review.

The deal, announced in early February, would merge MBL's Mortgage Brain Ltd. with TrigoldCrystal for either £6.8 million in...
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