Wednesday April 1, 07:47 AM
UPDATE 1-UK watchdog says Capita may have to sell IBS
LONDON, April 1 (Reuters) - Britain's competition regulator ruled on Wednesday that back-office outsourcing firm Capita Group Plc may have to sell all or part of IBS Opensystems (LSE: OPN.L
- news) , acquired last June.
The Competition Commission said the 77.7 million pound ($111.3 million) deal could damage competition in the market for the supply of revenue and benefits software to local authorities.
'We will now consult on appropriate ways to address the loss of competition, which could include a requirement for Capita to sell all or part of the acquired business,' said Inquiry Group Chairman Christopher Clarke.
The regulator said, however, that the acquisition would not reduce competition in the market for social housing software, where there are more suppliers.
($1=.6981 Pound)
(Reporting by Victoria Bryan) Keywords: CAPITA/CC
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