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SSE says on track with Npower merger after Phase II probe opened

Reuters - UK Focus

LONDON, May 8 (Reuters) - SSE Plc (LSE: SSE.L - news) said on Tuesday it was on track to complete the planned merger between its retail power business in the UK with Npower, owned by German rival Innogy, after British regulators opened a Phase II investigation into the deal.

A Phase II investigation, by the Competition and Markets Authority, typically lasts 24 weeks and can be extended. SSE (Amsterdam: UW8.AS - news) said it expects to complete the formation and listing of the new company in the last quarter of 2018 or first quarter of 2019.

(Reporting by Sabina Zawadzki, editing by Louise Heavens)