Trump announces trade deal with EU following months of negotiations
LONDON - The UK Competition and Markets Authority (CMA) announced Wednesday its intention to close an investigation into seven UK housebuilders by accepting voluntary commitments, according to a press release from Taylor Wimpey (LON:TW).
The CMA, which launched the investigation in February 2024 examining conduct between January 2022 and February 2024, has not made any infringement findings against Taylor Wimpey or any of the other housebuilders involved.
As part of the proposed resolution, the seven companies have agreed to commitments including not sharing certain categories of information with other housebuilders and supporting industry bodies in developing guidance on information exchange.
The companies will also make a combined financial contribution of £100 million to the Government’s Affordable Homes Programme, with Taylor Wimpey’s portion amounting to £15.84 million. This payment will be made within three months of formal notification of the CMA’s acceptance and will be treated as an exceptional item in Taylor Wimpey’s half-year results.
The CMA’s consultation on the proposed commitments will remain open until July 24, 2025, after which the authority will make its final decision.
Taylor Wimpey stated it welcomes the CMA’s intention to conclude the investigation through voluntary commitments and will continue to work with the authority as the process concludes.
The commitments offered do not constitute an admission of wrongdoing by any of the companies involved, according to the statement based on the press release.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.