CAP Clean Air

RNS No 1433p
MERGER REFERRAL
31st July 1997


NIGEL GRIFFITHS REFERS TO MMC PROPOSED ACQUISITION BY CAPITAL
RADIO HOLDINGS PLC OF VIRGIN RADIO HOLDINGS LIMITED
                              

Nigel Griffiths, Competition and Consumer Affairs Minister, has decided, in
accordance with the advice of the Director General of Fair Trading, to refer
the acquisition by Capital Radio plc of Virgin Radio Holdings Limited to the
Monopolies and Mergers Commission for in vestigation and report under the
provisions of the Fair Trading Act 1973. The MMC are requi red to make their
report by 14 November 1997.

The Minister considers that the acquisition raises competition concerns in
respect of the market for local radio advertising services in the London area.
The decision to make a reference does not in any way prejudge the question of
whether or not the merger would be again st the public interest. It is for the
MMC to report on this after its investigation.

Notes for Editors


1. The Fair Trading Act 1973 empowers the Secretary of State to refer to the MMC
for investigation and report actual or proposed mergers which create or
intensify a market share of 25 per cent of the supply in the United Kingdom, or
a substantial part of the Un ited Kingdom, of particular goods and services or
involve the takeover of assets exceeding #70 million.

2. The Radio Authority announced on 17 July a preliminary assessment of the
proposed acquisition in respect of the radio-specific public interest test in
the Broadca sting Act 1990, as amended by the Broadcasting Act 1996. The
Authority has indicated that it will make no final determinination until the
outcome of the examination of the proposed merger unde r the Fair Trading Act is
known.


END

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