Poundland Group PLC Statement Re: CMA (6110K)
April 17 2015 - 10:08AM
UK Regulatory
TIDMPLND
RNS Number : 6110K
Poundland Group PLC
17 April 2015
17 April 2015
POUNDLAND GROUP PLC
Further statement on the UK Competition and Markets Authority's
review of Poundland's proposed acquisition of 99p Stores
On 9 April 2015, the UK Competition and Markets Authority
("CMA") published its review of the proposed acquisition of 99p
Stores Ltd ("99p Stores") by Poundland Group plc ("Poundland").
After careful consideration, Poundland has decided not to offer
remedies to the CMA. The CMA has announced today that the merger
will therefore be referred for a Phase II review. Poundland has
written to the CMA to request the standard three week suspension of
the commencement of that Phase II review. During this period,
Poundland will continue to consider carefully whether to proceed
with a Phase II review or to withdraw from the proposed
transaction.
Poundland will make a further announcement in due course.
Further information on the CMA's investigation into Poundland's
proposed acquisition of 99p Stores is available at:
https://www.gov.uk/cma-cases/poundland-99p-stores-merger-inquiry.
Investor Enquiries:
Nick Hateley, Chief Financial +44 (0) 121 568
Officer 7000
Philip Dorgan, Head of +44 (0) 121 568
Investor Relations 7000
Media Enquiries:
Citigate Dewe Rogerson
+44 (0) 207 282
Simon Rigby 2847
+44 (0) 207 282
Ellen Wilton 2849
This information is provided by RNS
The company news service from the London Stock Exchange
END
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