UK asks permission to investigate Carnival bid for P&O Princess
The government has stepped in to ask the European Commission to refer a hostile £4.8bn takeover offer from Carnival Corporation for P&O Princess to the UK competition authorities.
If the Commission grants the request from the Department of Trade and Indsutry, the move will bring Carnival's bid under the same regulatory scrutiny as a rival £5.2bn merger plan between Prince Princess and Royal Caribbean.
The Commission has until 16 April to decide whether to hand over control of the investigation to the UK authorities; relinquish part of it; or conduct the investigation from Brussels.
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