Connells cleared to buy Countrywide by FCA, but will competition watchdog jump in?

first_imgConnells has revealed that the Financial Conduct Authority (FCA) has given its blessing to the company’s acquisition of Countrywide, leaving just one last hurdle for the deal to clear – a potential investigation by the Competition and Markets Authority (CMA).Although Connells and Countrywide are both established companies, Countrywide is a regulated ‘appointed representative’ of financial products, and therefore the FCA is required by law to assess whether Connells is suitable to be a controller of an ‘authorised firm’.“Connells has confirmed that the condition relating to such approval has now been satisfied,” a joint statement from both companies says.Based on this FCA approval, all that now remains legally is for a court hearing to take place to formally approve the acquisition, which will take place on 4th March and take effect on 8th March.CompetitionBut one potential threat to the deal would be if the CMA decided to launch an investigation on the basis that it was anti-competitive and put the two combined companies in a too dominant a market position.And based on Rightmove listings data, the combined company will have a market share of property sales totalling just shy of 10%, making it far and above the largest estate agency in the UK, followed by Purplebricks and Hunters.An investigation would be within the CMA’s remit. Its own rules stipulate that it can look at mergers including acquisitions and joint ventures where two or more firms ‘cease to be distinct’.Also, the turnover of the acquired firm (i.e. Countrywide) must exceed £70 million, or ‘the two companies supply at least 25% of the services supplied to the market and the merger increases that share of supply’.The Negotiator approached the CMA but said it could not comment.Purplebricks Hunters connells Countrywide February 26, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Connells cleared to buy Countrywide by FCA, but will competition watchdog jump in? previous nextAgencies & PeopleConnells cleared to buy Countrywide by FCA, but will competition watchdog jump in?FCA has cleared Connells to be the controller of FCA-regulated Countrywide, a deal which is expected to now formally take place on 8th March.Nigel Lewis26th February 20210679 Viewslast_img read more

Rosie’s €1,083 trolley dash at Home Store + More!

first_imgRosie Connolly from Letterkenny normally likes to take her time when she goes shopping.But there was no time to waste when she popped along to the brilliant Home Store + More at the Letterkenny Retail Park yesterday.Rosie with her mum Teresa and her haul of goodies!Rosie was the winner of a competition organised by the store which gave contestants the chance to grab as many items as possible in just a minute and stuff them into a trolley to keep. Needless to say, Rosie didn’t waste any time checking prices but covered the shop floor like a professional shopper with a wallet-full of somebody else’s money to spend!Supported by her mum Teresa from Booragh in Ramelton and some other friends, Rosie managed to nab a staggering €1,083 worth of goods in just four minutes.Staff at the shop were delighted for Rosie and wished her well as she left the premises to fill her car. Staff at the new store which is proving hugely popular with locals are planning plenty of other novelty promotions as the store continues to grow even more popular.Rosie’s €1,083 trolley dash at Home Store + More! was last modified: April 11th, 2019 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:competitiondonegalHomestore and MoreletterkennyRosie Connollylast_img read more

Six Ways to Save Money in Enterprise Content Management

first_imgMassive Non-Desk Workforce is an Opportunity fo… Enterprise content management (ECM) is big business these days. There are scads of companies turning a tidy profit promising to do a competent job of managing every conceivable type of content, from records bound by regulation to Web content and freewheeling collaborative work. What there isn’t as much of is sound advice from experienced professionals on how to save money when it comes to ECM. At a time when IT budgets are tight and few can afford to spend anything they don’t have to, Gartner’s research vice president Tony Bell is offering some interesting thoughts on best practices for reducing costs. Here’s our assessment of his tactics for increasing efficiency when it comes to ECM. Clean HouseBefore you’re ready to make a new ECM implementation of any kind, take the time to assess what content you have and what you can do without. Either as a team or through designated point people, find and eliminate old and duplicate content that bogs down your current solution. Keeping content around that is doing you no good is a waste of time and resources. If content migration and integration of systems is so important, more enterprises should be paying attention to how they can alleviate the burden that unnecessary content creates. Develop Automated PoliciesAs Gartner puts it, “a policy about documents takes the form of rules and metadata that allow some automatic categorization and expiration of content.” In other words, creating document policies for your ECM implementation is going to help preclude the need for spending a lot of time on the need to prune old content to increase efficiency. Automated processes are a big deal in many enterprise systems these days, but not everyone is applying their understanding to documents. That’s a shame, since it’s a powerful method for keeping junk out of your document repositories and file servers. Consider Open Source Alternatives & Accompanying ServicesGartner’s specific recommendation is about “content service providers” and open source. The first half of that equation refers to ECM vendors who can also provide services to augment or replace certain needs when in the enterprise. In our view this is the area that needs the most careful consideration. While Gartner is correct that services can be a boon to your ECM strategy and help you make good choices that will reduce spending, it’s not always the case that services perform as advertised. It’s important to note that what we’re talking about is companies that integrate services with their core business, not those who rely on a partner ecosystem to make up for all necessary consulting. The latter half of Gartner’s suggestion here is about open source. Yes open source is the kind of thing that tends to scare the enterprise. But running blindly away from a market that has become a stable alternative, complete with SLAs and adequate support, is foolish during a period when enterprises know they need to cut costs. Leverage the WebBy which we mean stop trying to rely on in house data and content channels for everything, especially in areas where you’re ferrying data from one consumer-facing location to another. It may make IT feel more secure, but not taking advantage of a faster, cheaper network that already exists for content delivery isn’t going to save you any money. Go GreenGoing green isn’t just about acting ethically as a business, it can save you money too. As anyone who works in the B2G space knows, dealing with a heavy paper document workload is a serious drain on company resources. Unless you’ve a special case, there’s no excuse for not pushing hard on becoming as close to a paperless organization as humanely possible. Get Out of the Email BusinessThe headline for this one was just too good not to change. Countless enterprise vendors large and small are declaring how hip they are when it comes to fighting email overload and increasing efficiency. But fewer enterprises are tackling the root of the problem by killing their on-premise Exchange servers altogether. Even if you’re not the least bit interested in “Going Google” there are now robust hosted Outlook options available. Cutting out the enormous IT overhead that email and calendaring creates is a great way to save money when it comes to enterprise content management. The full release is available here, and you can hear Tony Bell speak on this at Gartner’s Portals, Content & Collaboration Summit in September.Photo by AMagill Related Posts steven walling Cognitive Automation is the Immediate Future of…center_img Tags:#enterprise#Trends IT + Project Management: A Love Affair 3 Areas of Your Business that Need Tech Nowlast_img read more