Inter City Railways / InterCity East Coast franchise merger inquiry
The CMA is investigating the acquisition by Inter City Railways Limited (ICRL) of the InterCity East Coast (ICEC) rail franchise.
|Phase 1 date||Action|
|17 June 2015||Undertakings in lieu accepted|
|21 April 2015||Extension of undertakings in lieu (UILs)|
|6 March 2015||Decision published|
|6 February 2015||Decision announced|
|9 December 2014||Launch of merger inquiry|
|10 December to 24 December 2014||Invitation to comment|
Undertakings in lieu of reference accepted
17 June 2015: The CMA has accepted undertakings in lieu of reference under the Enterprise Act 2002 for the acquisition by Inter City Railways Limited of the InterCity East Coast rail franchise. A copy of the undertakings and the decision are available below.
- UIL acceptance decision (22.7.15)
- Stagecoach final undertakings (17.6.15)
- News story: CMA accepts Stagecoach undertakings over InterCity East Coast franchise (17.6.15)
Modified undertaking in lieu of reference consultation: Now closed
2 June 2015: We are consulting on modifications to a proposed undertaking in lieu of a reference for the acquisition of the ICEC rail franchise by Inter City Railways Limited.
- Notice of consultation (2.6.15)
- ICEC modified undertaking (2.6.15)
- Modified undertaking showing amendments (2.6.15)
- News story: CMA consults on modified InterCity East Coast undertakings (2.6.15)
Extension of considerations of undertakings in lieu
21 April 2015: The CMA has extended the consideration of UILs until 18 June 2015.
- Notice of extension (21.4.15)
Undertaking in lieu of reference consultation: Now closed
13 March 2015: We are consulting on a proposed undertaking in lieu of a reference for the acquisition of the ICEC rail franchise by Inter City Railways Limited.
- Notice of consultation (13.3.15)
- ICEC proposed undertakings (13.3.15)
- News story: CMA consults on InterCity East Coast undertakings (13.3.15)
CMA to consider undertakings offered
20 February 2015: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Stagecoach, or a modified version of them, might be accepted by the CMA to remedy the substantial lessening of competition identified by the CMA. A copy of the notice is available below.
- Notice to consider undertakings offered (9.3.15)
- News story: CMA to look in detail at Stagecoach proposed undertakings (20.2.15)
Opportunity to offer undertakings to avoid reference
6 February 2015: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. Inter City Railways Limited now has an opportunity to offer acceptable undertakings to address these competition concerns to avoid a reference for a phase 2 investigation. The full text of the decision is available below.
- Full text decision (6.3.15)
- Press release: Stagecoach/Virgin consortium given chance to resolve limited competition concerns arising from the East Coast rail franchise award (6.2.15)
Launch of CMA merger inquiry
9 December 2014: The CMA announced the launch of its merger inquiry by notice to the parties.
Invitation to comment: Now closed
10 December 2014: The CMA is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
Please send written representations about any competition issues to:
Competition and Markets Authority
Published: 10 December 2014
Updated: 22 July 2015
Opened: 10 December 2014
Closed: 17 June 2015
- Undertakings in lieu acceptance decision published.
- Undertakings in lieu of reference accepted.
- Modified undertaking in lieu of reference consultation launched.
- Notice of extension published.
- Undertaking in lieu of reference consultation launched.
- Notice to consider undertakings offered added.
- Full text of the decision published.
- Undertakings offered.
- Decision announced: opportunity to offer undertakings to avoid reference.
- Time table amended
- Notice of extension added.
- First published.
Case type: Mergers
Case state: Closed
Market sector: Transport