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Before the merger, GBST and FNZ were competitors and the U.K.’s CMA wants a return to that situation.
A U.K. regulator is ordering wealth management vendor FNZ to undo its controversial takeover of GBST and sell the back-office technology vendor because, the regulator argues, the merger could lead to a “reduction in the quality of service and higher prices” for retail investment platforms. The acquisition was completed before the U.K. Competition and Markets...
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