Spreadex / Sporting Index merger inquiry
The Competition and Markets Authority (CMA) is investigating the completed acquisition by Spreadex Limited of the B2C business of Sporting Index Limited.
Phase 2
Administrative timetable
Referral date: 17 April 2024
Statutory deadline: 4 December 2024
- (9.10.24)
Contact
Email: SpreadEx.SportingIndex@cma.gov.uk
Final report
22 November 2024: The CMA has published its final report.
- (22.11.24)
- (22.11.24)
- (22.11.24)
- Press release: Spreadex required to sell Sporting Index (22.11.24)
Notice of extension of statutory period
- (9.10.24)
- (30.9.24)
Responses to the provisional findings
- (16.9.24)
- (16.9.24)
Responses to the notice of possible remedies
- (5.9.24)
- (5.9.24)
- (5.9.24)
- (5.9.24)
Notice of extension of statutory period
- (25.7.24)
Provisional findings
25 July 2024: The CMA has provisionally found competition concerns as part of its in-depth investigation of the completed acquisition by Spreadex Limited of the B2C business of Sporting Index Limited.
The deadline for submitting responses to the notice of possible remedies is 8 August 2024. The deadline for submitting responses to the provisional findings is 15 August 2024.
- (25.7.24)
- (25.7.24)
- (25.7.24)
- (25.7.24)
- (25.7.24)
- Press notice: Spreadex and Sporting Index merger raises provisional competition concerns (25.7.24)
Directions to appoint a monitoring trustee
11 July 2024: On 29 April 2024, pursuant to an initial enforcement order dated 15 January 2024, the CMA directed Spreadex.Com Limited and Spreadex Limited to appoint a monitoring trustee.
- (11.7.24)
Issues statement
16 May 2024: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm, 29 May 2024.
- (16.5.24)
Inquiry group appointed
17 April 2024: The CMA has appointed the inquiry group:
Terms of reference
17 April 2024: The CMA has referred the completed acquisition by Spreadex Limited of the B2C business of Sporting Index Limited for an in-depth investigation.
- (17.4.24)
Phase 1
Statutory timetable
| Date | Action |
|---|---|
| 4 April 2024 | Decision announced |
| 6 February 2024 to 20 February 2024 | Invitation to comment |
| 6 February 2024 | Launch of merger inquiry |
| 15 January 2024 | Initial enforcement order |
Reference decision
17 April 2024: The CMA has referred the completed acquisition by Spreadex Limited of the B2C business of Sporting Index Limited for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.
- (17.4.24)
Reference unless undertakings accepted
4 April 2024: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. The transaction will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.
- (29.4.24)
- (4.4.24)
- Press release: Spread betting deal raises competition concerns (4.4.24)
Launch of merger inquiry
6 February 2024: The CMA announced the launch of its merger inquiry by notice to the parties.
- (6.2.24)
Invitation to comment: closed
6 February 2024: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
To assist it with this assessment, the CMA invites comments on the transaction from any interested party.
Written representations about any competition issues should be provided by the deadline set out above.
Initial enforcement order
15 January 2024: The Competition and Markets Authority has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Spreadex.Com Limited and Spreadex Limited.
- (16.1.24)
Amendments / consents granted
- (30.5.24)
- (11.3.24)
- (23.1.24)
- (17.1.24)
Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, read our Privacy Notice.
Updates to this page
Published 16 January 2024Last updated 22 November 2024 + show all updates
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Final report published
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Termination of extension published, and administrative timetable updated.
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Notice of extension published
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Responses to the provisional findings.
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Responses to the remedies notice published.
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Provisional findings and appendices and glossary documents published.
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Notice of extension of statutory period and provisional findings published.
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Directions to appoint a Monitoring Trustee published.
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Derogation published.
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Issues statement published
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Full text for reference unless undertakings accepted published
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Inquiry group appointed.
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Decision to refer and terms of reference published
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Phase 1 decision announced.
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Derogation published.
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Merger inquiry launched.
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Derogation variation published.
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Derogation published
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First published.