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Net-A-Porter and Yoox merger inquiry launched

The Competitions and Markets Authority (CMA) has launched an inquiry into the merger of luxury etailer Net-a-Porter and its Italian competitor Yoox.

Richemont, Net-A-Porter’s owner, confirmed the €1.3bn (£936m) deal in March and said the two brands will collectively be known as the Yoox-Net-a-Porter Group.

However the CMA said it was considering whether a union between the two brands may result in a “substantial lessening of competition” within its market, and is calling for comments from “any interested party”.

The organisation will make a decision over whether to pursue the investigation further on September 7.

A spokesman from Yoox said: “It is normal practice for the UK Competition and Markets Authority to make an announcement, which is in a standard form, on the day that a merger is formally notified to the CMA. The merger between Yoox Group and The Net-A-Porter Group has already been approved by antitrust authorities in the US, Germany and Austria.”

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