MoneySupermarket deal gets go-ahead from OFT

MoneySupermarket.com Group's proposed acquisition of MoneySavingExpert has been given the green light by the the Office of Fair Trading (OFT).

Moneysupermarket continues to expect the acquisition to complete in either September or October of this year. The price comparison web site firm is planning to make the acquisition for £87m, costs which had a negative impact on its half-year results.

The firm's Chief Executive has previously defended the cost of the purchase, saying MoneySavingExpert.com is "among the most trusted brands in consumer finance" and that the combination of the two businesses "will give us a greater ability to help more customers and will accelerate progress towards our goal of helping every consumer make the most of their money".

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The share price fell 0.14% to 140.60p by 09:57.

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