UK watchdog investigates Penguin owner's Simon & Schuster takeover

CMA says it is considering whether Penguin Random House’s $2bn deal would lessen competition

The UK competition watchdog has launched an investigation into Penguin Random House’s (PRH) $2bn (£1.45bn) takeover of rival book publisher Simon & Schuster.

The Competition and Markets Authority said on Monday it was considering whether the deal, which cements PRH’s position as the world’s biggest book publisher, would result in a “substantial lessening of competition within any market or markets in the United Kingdom for goods or services”.