In August 2022, the UK’s Competition and Markets Authority (CMA) said Dye & Durham should sell TM Group, which it bought in July 2021
The TM Group, a leading provider of business services in the UK, has been sold after raising competition concerns. The Competition and Markets Authority (CMA) had been investigating the company for several months, and had identified a number of areas where the company had been engaging in anti-competitive practices.
The CMA’s investigation found that TM Group had been using its market power to restrict competition and raise prices for customers. It had been doing this by entering into exclusive agreements with suppliers, preventing them from offering their services to other customers. It had also been preventing customers from switching to other suppliers by imposing large exit fees.
The CMA concluded that these practices were anti-competitive and had resulted in higher prices for customers. As a result, it ordered TM Group to sell the business. The sale was completed earlier this month, with the new owners promising to abide by the CMA’s ruling and ensure that customers are not disadvantaged by anti-competitive practices.
The sale of TM Group is an important reminder of the importance of competition in the marketplace. It shows that businesses must be aware of their obligations under competition law and must not engage in anti-competitive practices. It also demonstrates the effectiveness of the CMA in enforcing competition law and ensuring that customers are not disadvantaged by anti-competitive practices.
Overall, the sale of TM Group is a positive step in ensuring that competition is maintained in the marketplace. It shows that businesses must be aware of their obligations under competition law and must not engage in anti-competitive practices. It also demonstrates the effectiveness of the CMA in enforcing competition law and ensuring that customers are not disadvantaged by anti-competitive practices.