SOUTH STAFFORDSHIRE PLC NEWS ARTICLE
05/01/12 - South Staffordshire Plc’s acquisition of Cambridge Water referred to the Competition Commission
The Group confirms that, as anticipated at the time of acquisition in October 2011, as it now owns two water companies, The Office of Fair Trading has referred South Staffordshire Plc's acquisition of Cambridge Water to the Competition Commission.
The Competition Commission has been asked to decide whether the acquisition may be expected to prejudice the ability of the water industry regulator, Ofwat, to make comparisons between water enterprises for the purposes of assessing performance and setting price controls.
The Competition Commission is expected to report its findings by 20 June 2012. As has been the case since the acquisition, the Group’s two water companies, South Staffs Water and Cambridge Water will continue to operate independently during the Competition Commission review.
For further information please contact Adrian Page at South Staffordshire Plc on 01922 618001.
5 January 2012