Poundland Group PLC Statement Re: CMA (6110K)

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RNS Number : 6110K

Poundland Group PLC

17 April 2015

17 April 2015

POUNDLAND GROUP PLC

Further statement on the UK Competition and Markets Authority's review of Poundland's proposed acquisition of 99p Stores

On 9 April 2015, the UK Competition and Markets Authority ("CMA") published its review of the proposed acquisition of 99p Stores Ltd ("99p Stores") by Poundland Group plc ("Poundland"). After careful consideration, Poundland has decided not to offer remedies to the CMA. The CMA has announced today that the merger will therefore be referred for a Phase II review. Poundland has written to the CMA to request the standard three week suspension of the commencement of that Phase II review. During this period, Poundland will continue to consider carefully whether to proceed with a Phase II review or to withdraw from the proposed transaction.

Poundland will make a further announcement in due course.

Further information on the CMA's investigation into Poundland's proposed acquisition of 99p Stores is available at: https://www.gov.uk/cma-cases/poundland-99p-stores-merger-inquiry.

 
 Investor Enquiries: 
 Nick Hateley, Chief Financial    [phone] 
  Officer                          7000 
 Philip Dorgan, Head of           [phone] 
  Investor Relations               7000 
 
 Media Enquiries: 
 Citigate Dewe Rogerson 
                                  [phone] 
 Simon Rigby                       2847 
                                  [phone] 
 Ellen Wilton                      2849 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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