Global Business Travel Group Offers Concessions to U.K. Regulator Over CWT Holdings Deal

Dow Jones

Nov 25, 2024

By Edith Hancock

The U.K.'s Competition and Markets Authority said it was considering concessions offered by Global Business Travel Group to end an investigation into the company's planned $570 million acquisition of CWT Holdings.

The regulator said Monday that the companies have offered to open up CWT's travel partner network, make price commitments to certain existing customers and sell off some customer contracts to a rival travel company to get their deal greenlit.

The watchdog set a Dec. 2 deadline for interested parties to comment on those concessions ahead of a provisional late January deadline to end the probe.

Earlier this month the CMA said the merger of the travel-management companies could lead to reduced choice and higher prices for customers, following an investigation that started on July 30.

The deal was first announced in March.

Write to Edith Hancock at edith.hancock@wsj.com

(END) Dow Jones Newswires

November 25, 2024 07:45 ET (12:45 GMT)

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