VEOEY - Veolia would sell U.K. units to appease CMA watchdog

Veolia Environnement (OTCPK:VEOEY) said on Thursday it will sell off two business units to appease the U.K. Competition and Markets Authority if it decides to block the company's planned merger with Suez (OTCPK:SZEVF) next month, the Financial Times reports. Veolia (OTCPK:VEOEY) said it would sell the U.K. waste unit it took over from Suez and its own U.K. industrial water and wastewater division to solve issues raised by the CMA, after already divesting large units in other countries to win approval for the deal from 17 antitrust authorities. The CMA, whose decision is due on July 17, has said the deal raised competition concerns in seven of the eight U.K. markets within the waste and water management sector. "This drastic decision is an effective response to the intransigence of the CMA," Veolia (OTCPK:VEOEY) said, and it "strongly disagrees with their analysis of the concerned markets and deplores the lack of

For further details see:

Veolia would sell U.K. units to appease CMA watchdog