CMA phase 2 investigation raises competition concerns in Amex GBT-CWT merger

American Express Global Business Travel’s planned acquisition of CWT has the potential to “substantially lessen competition” and may lead to “reduced choice and quality, and higher prices for customers”, according to the UK’s Competition and Markets Authority (CMA) which published an interim report on Wednesday as part of its ‘phase 2’ investigation following the launch of a merger inquiry in June.

The CMA said in a statement that Amex GBT and CWT compete “closely” for global multinational customers and that the merged business “would be, by far, the largest supplier in the market, with the second largest player around half the size of the merged business, and the remaining competitors less credible options for…