UK Allows $50M Zipcar-Streetcar Deal To Move Forward

Law360, New York (November 18, 2010, 11:37 AM EST) -- U.K. competition regulators on Thursday preliminarily approved Zipcar Inc.'s $50 million acquisition of British car-sharing service Streetcar Ltd. just months after raising concerns that the deal could potentially lead to higher prices and reduced services for consumers.

The U.K. Competition Commission preliminarily found that the combined Zipcar and Streetcar would enter into a “rapidly growing market” that would prevent the company from raising prices and worsening services.

In August, the U.K. Office of Fair Trading asked the Competition Commission to conduct an investigation into the tie-up...
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