Britain’s Competition and Markets Authority (CMA) will reconsider its decision regarding Spreadex and Sporting Index after the Competition Appeal Tribunal quashed its earlier ruling.
The CMA completed an in-depth investigation into the completed acquisition last November, concluding that the merger had created a substantial lessening of competition (SLC) in the supply of licensed online sports spread betting services in the United Kingdom.
The Authority decided that Spreadex should sell Sporting Index through a divestiture remedy based on a modified version of a remedy proposal submitted by Spreadex.
Spreadex appealed the CMA’s ruling to the Competition Appeal Tribunal, which agreed this week to quash the CMA’s decision and proposed remedy.
The case has now been remitted to the CMA following the identification of errors by the CMA in its final report, which include instances where the summaries of third party evidence did not accurately reflect the underlying material.
The CMA will now reconsider and make a new decision on the matter after appointing a Remittal Group, led by Richard Feasey as chair, Maria Da Cunha, Anne Fletcher and Paul Muysert.