But here the purchase raised competition concerns, prompting the CMA to launch an in-depth investigation just days later.
In the CMA’s original phase two decision, it found that FNZ selling the entire GBST business was necessary to address its concerns.
After considering new representations and evidence during the remittal, the CMA provisionally found that its competition concerns would also be “effectively and proportionately” addressed by requiring FNZ to sell GBST.
The assets would be restricted to those that do not affect GBST’s competitiveness in the supply of retail investment platform solutions.
Today the CMA announced its deems this approach to be the best course of action.