BT cleared for acquisition of Belgium's IP Trade by Competition and Markets Authority

 
William Turvill
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BT's global services business agreed a deal to buy IP Trade in February (Source: Getty)

BT’s takeover of Belgian trading floor communications company IP Trade has been cleared by the UK’s Competition and Markets Authority (CMA).

The body today said that it would not be referring the deal to an in-depth, phase two investigation.

The CMA announced it would be investigating the acquisition, by BT's global services division, last month.

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After gaining CMA clearance for the deal, a BT spokesman today said: “BT voluntarily submitted notification of the IP Trade acquisition to the CMA for their review and consideration and we are pleased that the deal has been approved.

“We will issue more details once the deal has been completed.”

On announcing the deal in February, BT’s global services chief executive Luis Alvarez said:

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Our customers will appreciate the way we will bring together BT’s Cloud of Clouds portfolio strategy, products and expertise, managed services capability and global reach with IP Trade’s open software platform and range of devices and applications.

We are fully committed to maintaining and supporting our existing customers through delivery of BT’s own and IP Trade solutions against our product roadmap. This is all about giving customers the best possible choices and flexibility on a global scale.

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