Ashtenne takeover bid under scrutiny

THE Office of Fair Trade (OFT), the British competition watchdog, has invited interested parties to comment on the proposed takeover of property group Ashtenne by a joint venture that includes Anglo Irish Bank.

The bank announced a deal last month to buy the company, in partnership with Warner Estate Holdings, another British property group, for £170 million (€246 million).

The OFT said it may conduct an investigation, based on the public consultation process, to establish whether the takeover would distort competition in the British market.