Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Thursday 11 February, 2010

Office of Fair Trade

Merger Update

RNS Number : 0405H
Office of Fair Trading
11 February 2010



11 February 2010






The OFT has today exercised its discretion not to refer to the Competition Commission two acquisitions by bus companies Go-Ahead and Arriva in the North East of England.

Arriva and Go-Ahead entered into two separate agreements to transfer local bus routes - including related assets and staff - around Hexham and Ashington in Northumberland.  

The OFT concluded that each transaction gave rise to a realistic prospect of a substantial lessening of competition:

·    the principal concern created by the Arriva acquisition was the loss of the competitive constraint from potential expansion that Arriva faced from Go-Ahead, in particular in the area around Cramlington and Ashington;  

 •    the concern caused by the Go-Ahead acquisition was the reduction in existing competition on a route from Newcastle to Hexham.

 However, the value of the affected markets in both cases was small enough to allow the OFT to exercise its 'de minimis' discretion not to refer the merger to the Competition Commission.

Given the simultaneous timing of these two transactions, the OFT also carefully examined whether they could give rise to an increased risk of 'market sharing', whereby each party would benefit from restricting its activities to clearly specified areas. The OFT ruled out this concern in the absence of any evidence of pre-existing coordination, the fact that the parties would continue to compete with each other across the wider area, and the continuing presence of other bus companies.    

Amelia Fletcher, OFT Senior Director of Mergers, said:

'The strength and extent of our concerns in this case were limited by the local presence of other bus operators, most significantly Stagecoach, which could expand if a commercial opportunity arose.

'The competitive constraints remaining on each acquirer, coupled with the fact that the value of the routes affected in each case was reasonably small, meant that we considered neither transaction justified the additional expense to the taxpayer of a reference to the Competition Commission.'


1.  The Reference Test - The OFT has a duty to make a reference to the CC if the OFT believes that it is or may be the case that arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation; and 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.


2.   Under the Enterprise Act 2002 a relevant merger situation is created if two or more enterprises have ceased to be distinct enterprises; and the value of the turnover in the United Kingdom of the enterprise being taken over exceeds £70 million; or as a result of the transaction, in relation to the supply of goods or services of any description, a 25 per cent share of supply in the UK (or a substantial part thereof) is created or enhanced.


3.   The text of this decision will be placed on the Office of Fair Trading's web site at as soon as is reasonably practicable.


4.    The 'de minimis' exception is formally known as the 'markets of insufficient importance' exception to the duty to refer under the Enterprise Act 2002. The OFT has considered this exception in around 22 cases and has applied it in 12 cases, including these two latest ones since the publication of its revised 'de minimis' guidance, (OFT516b) in 2007. The OFT is currently reviewing the responses to its Consultation paper on the exceptions to the duty to refer (including 'de minimis' and its ability to accept undertakings in lieu of reference) which is expected to be published in Spring 2010.





MEDIAenquiries: 020 7211+            

Corinne Gladstone        8899                          Kasia Reardon                        8901

Jonathan Marciano       8898                          John Fearn                              8708

Frank Shepherd         8133

Out of hours: mobile: 07774 134814            fax messages: 020 7211 8961



PUBLIC enquiries: 0845 7224499      [email protected]

OFT reports and consumer information leaflets are available free from: 

OFT, PO Box 366, Hayes UB3 1XB 0800 389 3158 [email protected]



This information is provided by RNS
The company news service from the London Stock Exchange

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