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Investing.com -- Britain’s competition watchdog announced Monday it will conduct an in-depth investigation into the proposed $3.7 billion merger between Getty Images (NYSE:GETY) and Shutterstock (NYSE:SSTK).
The Competition and Markets Authority (CMA) is moving the deal to a Phase 2 investigation due to concerns that the combination of the two major stock imagery providers could result in higher prices and reduced quality of stock imagery services.
The regulator’s decision follows its initial review of the transaction between the two U.S.-based companies, which are leading competitors in the global stock photography and digital content licensing market.
The CMA will now examine whether the merger would substantially reduce competition in the UK market, where both companies maintain significant operations and customer bases.
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