Ion’s wrists slapped in probe of Broadway deal

Competition watchdog extends initial investigation after Ion failed to comply with call for info

Ion Group's headquarters in London's One New Change complex
Flickr | Peter Alfred Hess

Trading systems giant Ion Group has received a telling-off from the UK’s competition watchdog as part of an ongoing probe into the firm’s acquisition of rival vendor Broadway Technology.

On April 23, the Competition and Markets Authority said Ion had failed to comply with a notice calling for “information and documents” to be provided by midnight the previous day. The time available for the CMA’s initial probe – originally set to conclude on June 17 – will be extended as a result.

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