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Britain's competition refers SSE- Npower deal for in-depth investigation

Reuters - UK Focus

May 8 (Reuters) - Britain's competition watchdog has ordered an in-depth investigation of the merger of SSE (LSE: SSE.L - news) 's retail power and gas business in the UK with German rival Innogy's Npower, the office said on Tuesday.

The Competition and Markets Authority said the initial Phase 1 investigation found that the deal could reduce competition, potentially leading to higher prices for some bill payers. (http://bit.ly/2KIlttK)

SSE and Npower did not offer measures to address the CMA's concerns, and so it has referred the merger for a more in-depth, Phase 2 investigation, the watchdog said.

A decision on the SSE-Npower merger will now be made by a group of independent panel members supported by a case team of CMA staff, CMA said. The deadline for the final report is Oct (Shenzhen: 000069.SZ - news) . 22, it added. (Reporting by Arathy S Nair in Bengaluru; editing by Patrick Graham)