DUBLIN (dpa-AFX) - Experian plc (EXPN.L) abandoned its proposed acquisition of U.K. credit-data rival ClearScore due to competition concerns.
Experian said it does not believe the U.K.'s Competition and Markets Authority will approve the proposed 275 million pound acquisition on satisfactory terms, despite the dynamism and competitive nature of the market, and the customer benefits arising from the proposed transaction.
In November 2018, the competition and Markets Authority said that its Phase 2 investigation has provisionally found that Experian plc's takeover of ClearScore was likely to result in less intense competition, potentially harming the continued development of digital products which help people understand their personal finances.
The CMA had been due to deliver its final report in March.
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