The UK’s Competition and Markets Authority (CMA) has cleared the merger of TravelSupermarket and Icelolly.com.
Chester-based price comparison website Moneysupermarket Group had said on May 13 it agreed to combine its TravelSupermarket business (TSM) with Leeds-based Icelolly Marketing Limited (Icelolly.com) to enable “stronger and broader travel comparison services across both brands.”
But on June 25, the CMA said it was considering whether the combination “… may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”
On Thursday, Moneysupermarket.com Group confirmed “the satisfactory completion of the UK merger control process in respect of the proposed combination of TravelSupermarket and Icelolly.com to create the Ice Travel Group.”
Moneysupermarket said: “The final condition for completion of the combination has now been met. The Group expects to complete the transaction in early September.
“In 2019 TravelSupermarket and Icelolly.com between them generated around £30m in revenue and under £10m in EBITDA.
“Given the current state of the travel market, we expect Icelolly.com to incur EBITDA losses to the end of 2021 but for in-year synergies to broadly offset these.”