Nationwide's £2.9bn Virgin Money Merger Under Competition Scrutiny

UK's Competition and Markets Authority to assess potential impact on banking sector competition, inviting public comments until June 14.

• The proposed merger would create the UK’s second-largest provider of mortgages and savings.
• Nationwide's takeover of Virgin Money is the largest UK banking merger since 2008.
• The Competition and Markets Authority has set a July 26 deadline for its initial decision.
• Virgin Money shareholders have approved the deal, but some Nationwide members express concerns.
• The merger would result in a combined group with approximately 24.5 million customers and 700 branches.

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