Anglian Water joint venture being examined by Competition and Markets Authority
- Credit: PA
A joint venture launched by Anglian Water Group is being probed by the Competition and Markets Authority.
The group announced in March that it would launch a new company, Wave, with Northumbrian Water Group, following changes to the water market allowing business customers to choose their supplier in a similar manner to other utilities.
Both companies entered the market in April as separate entities and planned to combine to form Wave following CMA clearance.
The authority is now considering if the deal would constitute a merger and result 'in a substantial lessening of competition' within any UK market.
It is inviting comments until June 20, and will make its phase 1 decision by August 8, said the CMA.
You may also want to watch:
If approved, Wave would be a 50-50 joint venture between Anglian Water Business and NWG Business, part of Northumbrian Water, the parent company to Essex and Suffolk Water.
- 1 'I can't carry it' - Shock as plant starts growing eight inches a day
- 2 Aldi planning four new stores in Norfolk
- 3 Man in 20s drowned in country park lake
- 4 Bungling car thieves dump £92,000 Range Rover
- 5 Norwich bar gets back licence after tearful appeal by owner
- 6 Woman hit with £900 vet bill after dog gets 'stoned' on park cannabis stash
- 7 Amazing photos show storms over Norfolk – and there are more to come
- 8 Body found in search for missing 87-year-old Margaret Smith
- 9 Shock as cleaner finds a snake in house
- 10 Potential for 30C today – but two days of thunderstorms on the way