The merger of Zoopla and the Digital Property Group (Primelocation, Findaproperty, Globrix) is a step closer today with the approval of the UK Office of Fair Trading.
Based on the evidence received, the Office of Fair Trading deemed that there would be no lessening of competition and consequently didn’t see the need to refer the merger to the Competition Commission for further investigation.
This has cleared the way for the merger to be completed over the next few weeks. The combined businesses will create, in theory, a much stronger competitor for rightmove.co.uk, the clear leader in the UK market.
Alex Chesterman Founder and CEO of Zoopla said, “We have always been firmly of the view that this transaction is pro-competitive and is good news for both our users and customers. We are glad to be in a position now to be able to get on with the business of making the proposed benefits a reality. We have much work to do to integrate our businesses and are looking forward to the opportunities ahead.”
Mark Milner, CEO Digital Property Group said, “I am obviously delighted that the OFT has agreed with us that this merger is pro-competitive and is good news for both our users and customers. The foundation of the merger is that together we can offer our members better value and our users a better experience, and it’s exciting that we can now get cracking on delivering against that premise.”