Hmv Group Regulatory News (HMV)

12 May 2006 07:00

Competition Commission12 May 2006 News Release 28/06 12 May 2006 CC FORMALLY CLEARS WATERSTONE'S/OTTAKAR'S MERGER The Competition Commission (CC) has formally cleared the anticipated acquisitionof Ottakar's plc by HMV Group plc through Waterstone's Booksellers Ltd, afterconcluding in its final report that the merger would not lead to a substantiallessening of competition in the market for the retail sale of new books toconsumers in any part of the UK. This confirms the provisional findings published at the end of March. Seerelease dated 30 March atwww.competition-commission.org.uk/press_rel/2006/mar/index.htm The final report can be found on the CC's website at:www.competition-commission.org.uk/inquiries/ref2005/hmv/index.htm The merger was referred by the Office of Fair Trading (OFT) on 6 December 2005and the CC was required to publish its final report by 22 May 2006. HMV's offerfor Ottakar's lapsed upon referral to the CC. Notes to editors 1. The Enterprise Act 2002 empowers the OFT to refer to the CC completed orproposed mergers for investigation and report which create or enhance a 25 percent share of supply in the UK (or a substantial part thereof) or where the UKturnover associated with the enterprise being acquired is over £70 million. 2. The HMV/Ottakar's inquiry group consisted of five members: Diana Guy(Group Chairman), Jayne Almond, Diane Coyle, Nicholas Garthwaite and CharlesHenderson. 3. The CC has a 24-week period in which it is required to publish its report,which may be extended by no more than eight weeks if it considers that there arespecial reasons why the report cannot be published within that period. 3. Further information on the CC and its procedures, including its policy onthe provision of information and the disclosure of evidence, can be obtainedfrom its website at: www.competition-commission.org.uk. 4. Media enquiries should be directed to Rory Taylor on 020 7271 0242 (email:rory.taylor@cc.gsi.gov.uk). This information is provided by RNS The company news service from the London Stock Exchange