HSBC's Water Utility Sale Under UK Antitrust Review

Law360, New York (January 5, 2012, 7:22 PM EST) -- The U.K.'s Office of Fair Trading on Thursday referred HSBC Bank PLC’s recent sale of its water supply unit to South Staffordshire PLC to the country’s Competition Commission for investigation.

The OFT said that it believed South Staffordshire’s completed acquisition of HSBC-owned Cambridge Water PLC met the threshold to trigger review by the Competition Commission.

“The OFT has a duty to refer mergers involving water companies to the Competition Commission if it believes that both the target and the acquiring water company have a turnover of...
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