Shares in Ebiquity PLC (LON:EBQ) rose after the Competition and Markets Authority (CMA) provisionally cleared the sale of its Advertising Intelligence business.
The CMA has provisionally approved the sales of the business to Nielsen Media Research Limited on an unconditional basis.
READ: Ebiquity's proposed sale of its advertising intelligence business gets the thumbs-up from Numis
The CMA is scheduled to give its final verdict on the disposal by December 9.
"We are encouraged by the CMA's provisional findings report following its in-depth investigation. The planned disposal of Advertising Intelligence to Nielsen will allow Ebiquity to continue investment in its core consultancy practices, better align the business to the significant market growth opportunities and materially reduce net debt," said Michael Karg, the chief executive officer of Ebiquity.
We’ve provisionally cleared the proposed merger between media intelligence companies Nielsen and Ebiquity. Read more: https://t.co/5M6026Zs58 pic.twitter.com/h6hWFXHAiA
— Competition & Markets Authority (@CMAgovUK) October 11, 2018