CMA clears Pennon's Sutton & East Surrey Water and South West merger

Water utility company Pennon has received the green light from the UK's competition watchdog for the proposed merger of Sutton & East Surrey Water and South West.

Pennon said on Friday that the Competition and Markets Authority has cleared the merger of SES with South West Water following the group's acquisition of the business back in January.

Pennon also said it was "pleased" that the proposed undertakings in relation to the separate reporting of SES Water's costs and performance had now been accepted.

As of 1340 BST, Pennon shares were up 0.58% at 602.50p.

Reporting by Iain Gilbert at Sharecast.com