OFT clears the merger between the Digital Property Group and Zoopla

The Office of Fair Trading (OFT) has today given clearance for the proposed merger between the Digital Property Group and Zoopla to go ahead. Digital Property Group is part of A&N Media, the consumer media division of DMGT. The merger will bring together Findaproperty.com, Zoopla.co.uk and Primelocation.com. The transaction is now expected to complete within the next few weeks.

Evidence received by the OFT during its investigation found that the merger would not result in reduced competition and consequently did not warrant reference to the Competition Commission for further investigation.

Mark Milner, CEO of the Digital Property Group said, “This is an important day for the industry, given the long-awaited balance in the market that this deal will deliver. It has been a long time coming and the enhanced value that the combined business will provide will make this deal a clear win for UK estate agents, letting agents and housebuilders.”

Martin Morgan, Chief Executive of DMGT said: “We are delighted that the merger has been approved. We now have the opportunity to challenge the market leader in the online property sector, to the benefit of both consumers and clients”.

See also – FindaProperty, Primelocation and Zoopla to merge to take on Rightmove posted on November 7, 2011.

UK, London

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