Britain moves to reverse IN&M sale

IN an unprecedented move, the British Office of Fair Trading (OFT) has acted to reverse the €88.7 million off-loading by Independent News & Media of its regional titles in the London area.

Britain moves to reverse IN&M sale
Fri, 30 Apr, 2004 - 01:00
Conor Keane, Business Correspondent

This will be the first time the OFT has invoked its powers to refer a merger to the Competition Commission (CC).

If the CC blocks the sale of the newspapers by the Tony O'Reilly-led IN&M to Archant Regional Limited it could cause problems for the owners of the Irish Independent and Sunday Independent newspapers as the sale was largely completed by December 2003.

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CourtsPlace: LondonPlace: Greater LondonPlace: NorthPerson: Tony O'ReillyPerson: Vincent SmithOrganisation: BritainOrganisation: IN&MOrganisation: British Office of Fair TradingOrganisation: OFT)Organisation: Independent News &Organisation: OFTOrganisation: Competition Commission (Organisation: CC)Organisation: CCOrganisation: IN&MOrganisation: Archant Regional LimitedOrganisation: Irish IndependentOrganisation: Sunday IndependentOrganisation: IndependentOrganisation: ArchantOrganisation: British Department of Trade and IndustryOrganisation: GannettOrganisation: DTIOrganisation: Newsquest (London) LtdOrganisation: GannetOrganisation: Independent News and Media UK LimitedOrganisation: Competition Commission
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