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Sepura notes official review of acquisition by Hytera

11 April 2017 09:29

The UK Department for Business, Energy & Industrial Strategy has confirmed it would initiate a review of the acquisition of Sepura by Project Shortway Ltd, a wholly owned subsidiary of Hytera Communications Corp.

This review would be via a Public Interest Intervention Notice under the Enterprise Act 2002.

The department had requested the Competition and Markets Authority (CMA) to consider whether a public interest consideration was relevant to the acquisition as a result of Sepura's commercial arrangements with UK government entities.

"Sepura and Hytera will continue to provide full assistance to the Department and the CMA during the CMA Review and have received confirmation from the Department that an early deadline of midnight on 4 May 2017 has been set for completion of the CMA Review," the said.

"Following the CMA Review the Secretary of State will determine, having regard to the need to make a decision as soon as reasonably practicable, whether to refer the matter, pursuant to s45 Enterprise Act 2002, for further review by the CMA."

At 9:29am: (LON:SEPU) Sepura PLC share price was -0.5p at 12.5p

Story provided by StockMarketWire.com

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