(Alliance News) - The UK Competition & Markets Authority said Friday it will not be referring DMG Media Ltd's takeover of JPIMedia Publications Ltd to a Phase 2 investigation.
DMG Media Ltd is a subsidiary of Daily Mail & General Trust PLC.
The competition regulator launched an investigation into to the completed acquisition in early December.
JPIMedia Publications - which was purchased for GBP49.6 million - is the owner of the i newspaper and a subsidiary of JPI Media Ltd.
Shares in DMGT were 0.9% lower in London on Friday afternoon at 671.00 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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