Britain's competition watchdog provisionally cleared a potential bid by music and media retail chain HMV Group for bookstore chain Ottakar's, but HMV said it would await a definitive ruling.
The Competition Commission said in a statement that it did not believe a takeover of the bookseller would lead to a substantial lessening of competition.
HMV launched a 440 pence per share bid for Ottakar's in September last year, but the bid lapsed when the proposed merger was referred to the competition authorities.
A spokeswoman for HMV said the company was pleased but not surprised at the decision, and that it felt vindicated in its original decision to bid for Ottakar's. She said HMV would await a final ruling on May 22 before deciding whether to make a fresh bid.
