M&A

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The CMA has raised concerns that Pennon's acquisition of Bristol Water could impede Ofwat's ability to regulate the market. The deal, which was completed in June, will be referred to a phase two investigation unless the companies can address the CMA's concerns.
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Will a tough PR19 price review process, planning for a record-low weighted average cost of capital, be the trigger for the water only companies to be swallowed up? Katey Pigden investigates.
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