OFT closed case: Anticipated acquisition by MoneySupermarket of MoneySavingExpert.
Affected market: Consumer finance advice websites
Found not to qualify.
- MoneySupermarket.com Group plc (MoneySupermarket) is active in the provision of price comparison services. It provides customers with online services enabling them to search and compare, in one place, a wide range of products.
- MoneySavingExpert.com (MoneySavingExpert) is active in the provision of unbiased consumer information and recommendations aimed at saving money for the general public.
- On 1 June 2012, MoneySupermarket signed a conditional agreement to acquire all of the assets of the MoneySavingExpert business. The parties notified the transaction on 6 July 2012. The administrative deadline is 3 September 2012.
- MoneySavingExpert generated a turnover in the UK of approximately £16 million for the year ending 31 October 2011, so the turnover test in section 23 of the Enterprise Act 2002 (the Act) is not met.
- On the basis of the information available to it, the Office of Fair Trading has decided that the anticipated acquisition of the MoneySavingExpert Business by MoneySupermarket.com Group plc does not qualify for investigation under the mergers provisions of the Act, because neither the UK turnover test nor the share of supply test in section 23 of the Act is met. A relevant merger situation has, therefore, not been created.