EXPN Experian Plc

By Ian Walker

The U.K. Competition and Markets Authority said Friday that Experian PLC's (EXPN.LN) 275 million pound ($358.1 million) acquisition of ClearScore Ltd. may reduce competition for people who want to check their credit score, and is seeking a remedy from the companies to address its concerns.

The regulator said Experian and ClearScore have until July 27 to offer a solution or it will refer the merger for a further investigation.

"As Experian and ClearScore are the market leaders in this field, and each other's main competitor, the Competition and Markets Authority is concerned that the merged company would be less likely to innovate to help people better understand their finances, potentially leading to people paying more for credit cards and loans," the regulator said.

Experian announced in March that it was buying ClearScore and said at the time that it hoped to complete the deal later this year. It said that the deal was subject to regulatory approval by both the CMA and the U.K. Financial Conduct Authority.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

July 20, 2018 02:48 ET (06:48 GMT)

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