October 17, 2016 / 10:27 AM / in 9 months

BRIEF-UK's CMA says ICE will have to sell Trayport to a new owner

1 Min Read

Oct 17 (Reuters) - UK Competition and Markets Authority (CMA):

* Has decided that Intercontinental Exchange, Inc.(ICE) should sell Trayport to preserve competition in wholesale energy trading

* Found that the merger would likely result in a loss of competition between ICE and its rivals

* Rejected alternative remedial action proposed by the companies, concluding that it would not be effective

* The group has decided that ICE will have to sell Trayport to a new owner, to be approved by the CMA, in order to preserve competition Source text for Eikon: [bit.ly/2elcJZN] (Bengaluru Newsroom)

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