CMA merger counterfactual: the rival bidder in nexfibre/Substantial
In short: The CMA merger counterfactual in nexfibre/Substantial is, provisionally, a purchase of Substantial by CityFibre, the rival bidder in the 2025 sale process, followed by a sale of its retail businesses. Measured against that, the CMA provisionally found on 2 October 2026 that the deal may be expected to lessen competition substantially in wholesale…
