The Monopolies and Mergers Commission is to investigate the bid by More O’Ferrall for LTA. More O’Ferrall, one of four bidders for LTA, would control around 21% of the UK outdoor advertising market if it were to be successful, and around 38% of the total London market. A market share of 25% usually causes an MMC investigation.
More O’Ferrall said it was “extremely disappointed” about the referral.Vincent Slevin, managing director of More O’Ferrall, said he had hoped that the bid would not be referred because the media world was changing; Carlton had 55% of the London television market and Capital Radio 65% of London radio he said. The MMC has until mid-October to present its report.
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