National Grid Transco plc ("NGT") is pleased to note today’s announcement by the Office of Fair Trading (“OFT”) relating to NGT’s proposed acquisition of the UK operations of Crown Castle International, Inc..
The OFT has confirmed that it will not refer the acquisition to the Competition Commission. Completion of the transaction is subject to a number of conditions precedent, not all of which have yet been satisfied.
NGT expects to complete this transaction on 31 August 2004.