OFT will not refer merger to Competition Commission
Mosaic's acquisition of Rubicon Retail has been given the green light by the Office of Fair Trading (OFT).

The OFT said today that it has decided not to refer the merger to the Competition Commission under the provisions of the Enterprise Act 2002.

The£353 million deal puts Mosaic and Rubicon into fourth place in the women's fashion market, according to a Verdict Research report, joining Mosaic's Oasis, Whistles and Karen Millen with Rubicon's Principles, Warehouse and The Shoe Studio.

However, with a 3.8 per cent market share, it will still be considerably smaller than the top three - Marks & Spencer, which has a 12 per cent share, Arcadia with 9.2 per cent and Next with 7.3 per cent.