French environmental group Veolia has informed the UK’s competition authority that it was ready to divest the British waste management operations it took over when it acquired rival Suez in January. Veolia said this would "terminate this long period of waiting" for the authority’s decision, and "above all" allow the group to "fully focus" on its stated aim of creating "the world champion of ecological transformation". In the run-up to the Suez takeover, Veolia had classified the competitor's UK waste management business as a strategic asset.
The UK's Competition and Markets Authority (CMA) launched its in-depth investigation of the takeover last December and published its preliminary findings about a month ago. The CMA found that the merger of the two environmental groups would significantly restrict competition in the British waste management market and that only a full sale of the waste business of either Suez or Veolia would effectively remedy the situation. The deadline for the CMA's final decision is 17 July....
