The UK¡¯s Competition and Markets Authority (CMA) has commenced an investigation into American Express Global Business Travel¡¯s proposed acquisition of rival travel management company CWT.

Amex GBT¡¯s $570 million deal to purchase CWT was first announced in March and would bring together the first and third-largest TMCs in Europe. But the transaction will have to receive regulatory approval in key markets such as the US, UK and the EU.

¡°We have voluntarily notified the CMA of the transaction for antitrust approval in the UK. We are working constructively with the CMA as it undertakes this standard merger review process,¡± said Amex GBT VP of public affairs Martin Ferguson.

The CMA said in a statement that it was considering whether the blockbuster TMC deal would fall ¡°under the merger provisions of the Enterprise Act 2002¡± as part of its preliminary Phase 1 investigation.

¡°And, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services,¡± added the CMA.

The authority is inviting comments on the impact of the Amex GBT-CWT deal ¡°from any interested party¡±, with a deadline for submissions of 18 June.

The CMA has also set the deadline of 30 July to decide whether to give the acquisition the green light or go ahead with a more in-depth Phase 2 investigation.

Amex GBT has previously said that it hoped to complete the purchase of CWT during the second half of this year.?

For more background about this deal, read BTN Europe¡¯s interview with Amex GBT¡¯s CEO Paul Abbott about the company¡¯s rationale for buying CWT.