The CMA to investigate OSB Charter Court merger
The Competition and Markets Authority (CMA) will investigate the merger of OneSavingsBank (OSB) and Charter Court Financial Services.
The CMA has set a deadline of 19 June for those interested to submit comments and then will assess everything before coming to a decision.
In March both Charter Court and OBS approved the proposed merger and a statement said they would continue to operate under separate brands, with OBS shareholders owning 55% of the combined group and Charter Court stakeholders 45%.
A merger of OneSavings Bank, which owns Kent Reliance and Charter Court, parent group of Precise Mortgages, would create a lender worth more than £1.6bn.