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OFT to look into’s acquisition of MoneySavingExpert

The Office of Fair Trading has revealed that it is looking into the proposed acquisition of MoneySavingExpert by price comparison site

Earlier this month, the price comparison site revealed that is was to acquire MoneySavingExpert for £87m.

MoneySavingExpert was established in 2003 by personal finance journalist Martin Lewis.

Lewis will become an employee of the group once the deal is completed and will be editor-in-chief of MoneySavingExpert.

A £35m upfront cash payment will be made as part of the deal alongside approximately 22.1m shares. There is also a deferred consideration of up to £27m subject to performance.

The deal is set to be concluded in September or October and is subject to shareholder approval.

The OFT is considering whether arrangements are in progress or in contemplation which, if carried into effect, will result 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 may be expected to result in a substantial lessening of competition within any market or markets in the UK.


Barclays allows parents to back children’s loans

Barclays has launched a mortgage scheme that allows parents to include their income as part of their child’s affordability check. The family affordability plan, called Helpful Start, allows parents’ income to be taken into account without their names appearing on the property deeds. The scheme is available across the lender’s whole mortgage range, including its […]

Hersch picked for ASTL

Benson Hersch, the former managing director of Cheval, has been appointed as the new chief executive officer of the Association of Short Term Lenders. Hersch replaces Adrian Bloomfield, who announced in March that he would resign when a successor was found. Hersch says he intends to visit as many members as possible to find out […]


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