UK regulator flags competition concerns again over Spreadex-Sporting Index deal

(Reuters) -Britain's competition watchdog on Thursday raised concerns once again over Spreadex's acquisition of Sporting Index's consumer arm, saying the companies together control 100% of UK's licensed online sports spread-betting market.

The move comes after the Competition and Markets Authority (CMA) on March 5 decided to reopen its probe into the completed acquisition after the Competition Appeal Tribunal (CAT) overturned its previous decision.

Last year, the CMA had asked Spreadex to sell the business it bought from Sporting Index in 2023 as it believed a combined entity would harm competition.

But Spreadex appealed that order with the CAT, which upheld the appeal on March 4, prompting the regulator to re-examine the deal.

Spreadex did not immediately respond to Reuters' request for comment.

The company has until June 19 to respond with possible remedies, the CMA said.

(Reporting by Raechel Thankam Job in Bengaluru; Editing by Shinjini Ganguli)