OFT Approves Cable & Wireless Takeover of Energis

The UK’s Office of Fair Trading has waved through Cable & Wireless’ takeover of rival telco Energis.

The OFT announced that C&W’s takeover of Chelys Ltd, Energis’ owner, will not be referred to the Competition Commission.”

“We do not believe that Cable & Wireless could impose higher post-merger prices on CPS (carrier pre-selection) customers, because of the number of credible competitors to which CPS retailers can turn to supply them with wholesale services,” the body said.

Commenting, Cable & Wireless Group CEO, Francesco Caio said: “I am delighted that we can now move towards finalising our transaction with Energis.”