The UK’s competition watchdog has opened an investigation the proposed takeover of General Electric’s nuclear steam power division by state-owned power giant EDF.
The CMA is giving interested parties until 14 April to comment on the prospective deal, following which it intends to formally launch an investigation into whether it would result in a ‘substantial lessening of competition.’
Read more: EU: EC fines General Electric in LM Wind merger case
EDF initially signed a memorandum of understanding with GE in February 2022 to acquire some of the American conglomerate’s nuclear power operations before the pair made a binding agreement on the matter nine months later.
The GE unit, estimated to be worth around $1 billion as per media reports, was owned by Alstom ALSO.PA until 2015.