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Investing.com -- The U.K. Competition and Markets Authority (CMA) has raised competition concerns over the proposed $3.7 billion merger between Getty Images Holdings and Shutterstock.
The British regulator announced Monday that both stock-photo companies have until October 27 to offer acceptable undertakings that would address these concerns. If the companies fail to provide satisfactory remedies, the CMA will refer the deal for a more in-depth investigation.
Getty Images and Shutterstock agreed to merge in January, with the combined entity valued at approximately $3.7 billion including debt.
The CMA had previously announced on August 22 that it was examining whether the merger would result in a substantial lessening of competition within the markets where these companies operate.
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