OFT Studies Velti/MIG Deal

The Office of Fair Trading (OFT) is scrutinising Velti’s acquisition of Mobile Interactive Group (MIG).

According to StockMarketWire.com, the OFT is considering whether arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation (i.e., one which warrants the OFT’s attention) under the Enterprise Act 2002.

Should it be found to be a relevant merger situation, the OFT will then consider whether the merger might result in reduced competition, in which case, the deal may be referred to Competition Commission for investigation and report.

A MIG spokesperson told Mobile Marketing that the firm had known about the situation for some time, but now that reports were starting to appear in public, it was in the process of preparing a formal statement.