If a reference is made on a public interest ground1, the Competition and Markets Authority ('CMA') will inquire and report back to the Secretary of State with recommendations regarding the competition issue and the public interest considerations2. The CMA may have regard only to such public interest considerations as are specified in the reference3. The CMA will follow a similar process to that for standard merger cases, albeit that it is obliged also to undertake a consultation sufficient to obtain opinion relating to how the media public interest considerations are affected by the merger4. Having completed its investigation, the
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