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th January 2021 1:47 pm
The competition watchdog’s decision to order FNZ to sell off fellow platform technology provider GBST has been quashed by the Competition Appeal Tribunal.
The case has been referred back to the Competition and Markets Authority so it can reconsider its view and “make a new decision”.
In December last year, FNZ submitted a notice of application to the CAT to challenge the watchdog’s ruling.
Later that month the CMA admitted it had “identified certain potential errors” in its market share calculations and asked the tribunal for the decision to be quashed so it could relook at the matter.